By Wendy Van Sickle
Columbus, Ohio, March 31 – Credit Suisse AG, London Branch priced $3.86 million of trigger phoenix autocallable optimization securities due March 29, 2019 linked to the common shares of AT&T Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7% if the stock closes at or above the coupon barrier level – 76.75% of the initial price – on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date after six months.
The payout at maturity will be par plus the contingent coupon unless the shares finish below the 76.75% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | AT&T Inc.
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| Amount: | $3,864,000
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| Maturity: | March 29, 2019
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| Coupon: | 7% per year, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | After six months, automatically at par plus contingent coupon if shares close at or above initial price on any quarterly observation date
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| Initial share price: | $39.45
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| Trigger price: | $30.28, 76.75% of initial share price
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| Pricing date: | March 29
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| Settlement date: | March 31
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 22548J846
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