Published on 4/4/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $52.85 million trigger autocallables on indexes
By Devika Patel
Knoxville, Tenn., April 4 – Credit Suisse AG, London Branch, priced $52.85 million of trigger autocallable contingent yield notes due April 2, 2027 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.7% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning March 29, 2018.
The payout at maturity will be par unless either index finishes below the 50% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $52,845,010
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| Maturity: | April 2, 2027
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| Coupon: | 8.7%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | Beginning March 29, 2018, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par unless index closes below trigger level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Initial levels: | 3,475.27 for Stoxx, 1,371.645 for Russell
|
| Coupon levels: | 2,432.69 for Stoxx, 960.152 for Russell, 70% of initial levels
|
| Trigger levels: | 1,737.64 for Stoxx, 685.823 for Russell, 50% of initial levels
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| Pricing date: | March 29
|
| Settlement date: | March 31
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 22549A588
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