Credit Suisse plans trigger phoenix autocallables tied to two indexes

By Toni Weeks

San Luis Obispo, Calif., Nov. 25 – Credit Suisse AG plans to price trigger phoenix autocallable optimization securities due Dec. 3, 2024 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

If each index closes at or above its 70% coupon barrier on any quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 9% for that quarter.

The notes are callable at par on any quarterly observation date after one year if the closing level of each underlying index is equal to or greater than its respective initial level.

If the notes are not called, the payout at maturity will be par plus the contingent coupon unless the worst-performing index finishes below the 50% trigger level, in which case investors will be exposed to the decline of the worst-performing index.

UBS Financial Services Inc. is the distributor.

The notes will price Nov. 26 and settle Dec. 2.

The Cusip number is 22547T431.

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