Credit Suisse to price trigger phoenix autocallables linked to Apple

By Wendy Van Sickle

Columbus, Ohio, Feb. 17 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due Feb. 25, 2021 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 9% if Apple stock closes at or above the coupon barrier level – 54% to 59% of the initial price – on the observation date for that month.

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

The payout at maturity will be par plus the contingent coupon unless Apple shares finish below the 54% to 59% trigger level, in which case investors will be fully exposed to any losses.

UBS Financial Services Inc. will be the distributor.

The notes will price on Feb. 19 and settle on Feb. 24.

The Cusip number is 22548J614.

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