By Susanna Moon
Chicago, Feb. 15 – Credit Suisse AG, London Branch priced $22.18 million of trigger autocallable contingent yield notes due Feb. 5, 2020 linked to iShares Russell 2000 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if the fund closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the fund finishes below its 80% downside threshold, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. is the distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying fund: | iShares Russell 2000 ETF
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Amount: | $22,184,460
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Maturity: | Feb. 5, 2020
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Contingent coupon: | 7%, payable quarterly if fund closes at or above 80% coupon barrier on observation date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par unless fund finishes below downside threshold, in which case 1% loss for each 1% decline
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Call: | At par if fund closes at or above initial level on any quarterly observation date after six months
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Initial price: | $156.36
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Downside threshold: | $125.09, 80% of initial price
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Pricing date: | Jan. 31
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Settlement date: | Feb. 5
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Agent: | UBS Financial Services Inc.
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Fees: | 1.5%
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Cusip: | 22549E366
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