By Marisa Wong
Madison, Wis., July 14 – Credit Suisse AG, London Branch priced $3.46 million of trigger phoenix autocallable optimization securities due July 16, 2020 linked to Dow Chemical Co. shares, according to a 424B2 with the Securities and Exchange Commission.
If Dow Chemical stock closes at or above the coupon barrier level – 75% of the initial price – on any monthly observation date, the notes will pay a contingent coupon at an annualized rate of 8% for that month.
If the shares close at or above the initial price on any monthly observation date after one year, the notes will be called at par plus the contingent coupon.
If the notes are not called and Dow Chemical shares finish at or above the 75% trigger price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. will act as distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Dow Chemical Co. (Symbol: DOW)
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| Amount: | $3,461,660
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| Maturity: | July 16, 2020
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| Coupon: | 8% per year, payable monthly if Dow stock closes at or above the coupon barrier level on monthly observation date
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| Price: | Par of $10.00
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| Payout at maturity: | If Dow shares finish at or above the trigger price, par plus the contingent coupon; otherwise, investors will be fully exposed to any losses
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| Call: | At par plus the contingent coupon if the shares close at or above the initial price on any monthly observation date after one year
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| Initial share price: | $51.41
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| Trigger/barrier price: | $38.56, 75% of initial share price
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| Pricing date: | July 10
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| Settlement date: | July 15
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 22548F398
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