Credit Suisse plans trigger phoenix autocallables linked to Blackstone

By Jennifer Chiou

New York, Oct. 23 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due Oct. 30, 2019 linked to the common units of Blackstone Group LP, according to a 424B2 filing with the Securities and Exchange Commission.

If Blackstone units close at or above the trigger price, 68% to 73% of the initial price, on a monthly observation date, the issuer will pay a contingent coupon for that month at the rate of 9% per year. Otherwise, no coupon will be paid that month. The exact trigger will be set at pricing.

If the units close at or above the initial price on a monthly observation date, the notes will be called at par of $10 plus the contingent coupon.

If the notes are not called and Blackstone units finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the price decline from the initial price.

The notes (Cusip: 22547T290) will price on Oct. 24 and settle on Oct. 29.

UBS Financial Services Inc. is the agent.

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