Published on 5/31/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5.12 million trigger autocallable contingent yield notes linked to Russell, S&P
By Angela McDaniels
Tacoma, Wash., May 31 – Credit Suisse AG, London Branch priced $5.12 million of trigger autocallable contingent yield notes due May 31, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its downside threshold level, 70% of its initial level, on the observation date for that quarter.
Beginning Nov. 25, 2016, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its downside threshold level, in which case investors will be fully exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $5,115,650
|
| Maturity: | May 31, 2019
|
| Coupon: | 7%, payable quarterly if indexes close at or above downside thresholds on quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
|
| Call: | Beginning Nov. 25, 2016, automatically at par if indexes close at or above initial levels on any quarterly observation date
|
| Initial levels: | 1,139.754 for Russell 2000 and 2,090.10 for S&P 500
|
| Downside thresholds: | 797.828 for Russell 2000 and 1,463.07 for S&P 500; 70% of initial levels
|
| Pricing date: | May 26
|
| Settlement date: | May 31
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 22548R426
|
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