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Credit Suisse plans contingent yield trigger autocallables tied to AIG
By Susanna Moon
Chicago, Sept. 21 – Credit Suisse AG, London Branch plans to price trigger autocallable contingent yield notes due Sept. 28, 2021 linked to American International Group, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if the stock closes above its coupon barrier, 69% to 74% of the initial level, on the observation date for that month. The exact barrier will be set at pricing.
The notes will be called at par if the shares close at or above its initial level on any observation date after one year.
The payout at maturity will be par unless the stock finishes below its barrier level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. is the distributor.
The notes will price on Sept. 23 and settle on Sept. 28.
The Cusip number is 22548T232.
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