By Wendy Van Sickle
Columbus, Ohio, Sept. 27 – Credit Suisse AG, London Branch priced $10.86 million of trigger autocallable contingent yield notes due Sept. 25, 2020 linked to the common stock of Bristol-Myers Squibb Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7% per year if the shares close at or above the coupon barrier, 67.5% of the initial share price, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if the shares close at or above the initial share price on any observation date.
If the notes are not called and the final share price is greater than or equal to the 67.5% downside threshold level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. will act as distributor.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Bristol-Myers Squibb Co.
|
| Amount: | $10,857,730
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| Maturity: | Sept. 25, 2020
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| Contingent coupon: | 7%, payable quarterly if stock closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
|
| Call: | After six months, automatically at par if stock closes at or above initial level on any quarterly observation date other than the final one
|
| Initial price: | $63.36
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| Barrier/downside threshold: | $42.77, 67.5% of initial price
|
| Pricing date: | Sept. 22
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| Settlement date: | Sept. 27
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 22549D251
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