Published on 8/13/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.65 million trigger autocallables tied to Russell
By Angela McDaniels
Tacoma, Wash., Aug. 13 – Credit Suisse AG, London Branch priced $3.65 million of trigger autocallable contingent yield notes due Aug. 12, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.1% per year if the index closes at or above the downside threshold level, 80% of the initial index level, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if the index closes at or above the initial index level on any quarterly observation date.
If the notes are not called and the final index level is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying index: | Russell 2000
|
| Amount: | $3,647,300
|
| Maturity: | Aug. 12, 2021
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 8.1% per year if index closes at or above downside threshold level on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If notes are not called and final index level is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that final index level is less than initial index level
|
| Call: | After six months, automatically at par if index closes at or above initial index level on any quarterly observation date
|
| Initial level: | 1,513.043
|
| Downside threshold: | 1,210.434, 80% of initial index level
|
| Pricing date: | Aug. 9
|
| Settlement date: | Aug. 14
|
| Agents: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 22550F831
|
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