Credit Suisse plans trigger phoenix autocallables on two indexes

By Jennifer Chiou

New York, Nov. 19 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due Nov. 29, 2024 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6.1% to 6.6% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date beginning after one year.

If the notes are not called and each index finishes at or above its 70% coupon barrier level, the payout at maturity will be par plus the contingent coupon.

If either index finishes below the 70% barrier but each index finishes at or above the trigger level, 50% of the initial level, the payout will be par.

Otherwise, investors will be fully exposed to any losses of the least-performing index.

The notes (Cusip: 22547T399) are expected to price on Nov. 25 and settle on Nov. 28.

UBS Financial Services Inc. is the distributor.

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