By Jennifer Chiou
New York, April 30 - Credit Suisse AG, London Branch priced $5.53 million of trigger phoenix autocallable optimization securities due April 30, 2024 linked to the Russell 2000 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its respective coupon barrier, 70%% of its initial level, on any quarterly observation date, the notes will pay a contingent coupon of 9% for that quarter.
If both indexes close at or above the initial level on any quarterly observation date after one year, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called, the payout at maturity will be par plus the contingent coupon, if any, unless either index finishes below the 50% trigger level, in which case investors will be fully exposed to the decline of the least-performing index.
UBS Financial Services Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Russell 2000 and MSCI Emerging Markets
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| Amount: | $5.53 million
|
| Maturity: | April 30, 2024
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| Coupon: | 9% if each index closes at or above its respective coupon barrier on quarterly observation date; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon, if any, unless either index finishes below the 50% trigger level, in which case full exposure to decline of the least-performing index
|
| Call option: | At par if both indexes close at or above the initial level on any quarterly observation date after one year
|
| Initial levels: | 1,117.062 for Russell, 993.12 for MSCI EM
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| Coupon barrier level: | 781.9434 for Russell, 695.18 for MSCI EM; 70% of initial levels
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| Trigger level: | 558.531 for Russell, 496.56 for MSCI EM; 50% of initial levels
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| Pricing date: | April 28
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| Settlement date: | April 30
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| Agent: | UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 22545F417
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