By Marisa Wong
Morgantown, W.Va., Sept. 1 – Credit Suisse AG, London Branch priced $4.63 million of 0% trigger performance securities due Aug. 31, 2020 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par of $10 plus 146% of the ETF return.
If the ETF return is zero or negative and the ETF’s final level is greater than or equal to the trigger level, 75% of the initial level, the payout will be par.
If the final level is less than the trigger level, investors will be fully exposed to the decline in the ETF from its initial level.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger performance securities
|
| Underlying ETF: | Vanguard FTSE Emerging Markets ETF
|
| Amount: | $4,633,500
|
| Maturity: | Aug. 31, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If ETF return is positive, par plus 146% of ETF return; if ETF return is zero or negative and ETF’s final level is greater than or equal to trigger level, par; if final level is less than trigger level, full exposure to decline in ETF from its initial level
|
| Initial share price: | $33.76
|
| Trigger level: | $25.32; 75% of initial level
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 22548F497
|
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