Credit Suisse plans trigger phoenix autocallable notes linked to Merck

By Toni Weeks

San Luis Obispo, Calif., Aug. 5 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due Aug. 13, 2020 linked to Merck & Co., Inc. shares, according to a 424B2 with the Securities and Exchange Commission.

If Merck stock closes at or above the coupon barrier level – 77% to 82% of the initial price – on any monthly observation date, the notes will pay a contingent coupon at an annualized rate of 6.5% for that month.

If the shares close at or above the initial price on any monthly observation date after one year, the notes will be called at par plus the contingent coupon.

If the notes are not called and Merck shares finish at or above the 77% to 82% trigger level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

UBS Financial Services Inc. will be the distributor.

The notes will price Aug. 7 and settle Aug. 12.

The Cusip number is 22548F505.

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