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Credit Suisse plans trigger autocallable contingent yield notes on two funds
By Sarah Lizee
Olympia, Wash., Aug. 24 – Credit Suisse AG, London Branch plans to price trigger autocallable contingent yield notes due Aug. 31, 2023 linked to the lesser performing of the iShares Russell 2000 ETF and Invesco S&P 500 Equal Weight ETF, 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% to 8% if each ETF closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be called at par if each ETF closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either ETF finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing ETF.
UBS Financial Services Inc. is the agent.
The notes will price on Aug. 26.
The Cusip number is 22550X444.
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