Published on 3/14/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $7.49 million trigger autocallables on two indexes
By Marisa Wong
Morgantown, W.Va., March 14 – Credit Suisse AG, London Branch priced $7.49 million of 0% trigger autocallable contingent yield notes due March 13, 2020 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon at an annual rate of 7.6% on a quarter 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 if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for every 1% decline of the worse performing index.
UBS Financial Services Inc. is distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 and Euro Stoxx 50
|
| Amount: | $7,494,060
|
| Maturity: | March 13, 2020
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| Coupon: | 7.6%, payable each quarter that each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the final coupon unless either index finishes below the downside threshold level, in which case investors will lose 1% for every 1% decline of the worse performing index
|
| Call: | At par if each index closes at or above its initial level on any quarterly observation date after six months
|
| Initial levels: | 2,372.60 for S&P, 3,416.27 for Euro Stoxx
|
| Coupon barriers: | 1,660.82 for S&P, 2,391.39 for Euro Stoxx; 70% of initial levels
|
| Downside thresholds: | 1,660.82 for S&P, 2,391.39 for Euro Stoxx; 70% of initial levels
|
| Pricing date: | March 10
|
| Settlement date: | March 15
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 22549A497
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