By Marisa Wong
Morgantown, W.Va., Aug. 26 – Credit Suisse AG, London Branch priced $2.27 million of trigger phoenix autocallable optimization securities due Aug. 27, 2020 linked to Apple 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 10.7% if Apple stock closes at or above the coupon barrier price, 80% of the initial price, on the observation date 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 of $10 plus the contingent coupon.
The payout at maturity will be par plus the contingent coupon unless Apple shares finish below the 80% trigger price, in which case investors will be fully exposed to the share price decline.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $2.27 million
|
| Maturity: | Aug. 27, 2020
|
| Coupon: | 10.7% per year, payable monthly if Apple stock closes at or above coupon barrier price on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus the contingent coupon unless Apple shares finish below the trigger price, in which case full exposure to losses
|
| Call: | At par plus the contingent coupon if the shares close at or above the initial price on any monthly observation date
|
| Initial price: | $105.76
|
| Barrier/trigger price: | $84.61, 80% of initial price
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 26
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 22548F570
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
