Published on 2/6/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $13.48 million trigger absolute return step notes on Euro Stoxx
By Marisa Wong
Morgantown, W.Va., Feb. 6 – Credit Suisse AG, London Branch priced $13,475,530 of 0% trigger absolute return step securities due Jan. 31, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus the greater of the step return, 49%, and the index return.
If the final index level is less than the initial index level but greater than or equal to the downside threshold level, 70% of the initial index level, the payout will be par plus the absolute value of the index return.
If the final index level is less than the downside threshold level, investors will lose 1% for every 1% that the final index level is less than the initial index level.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger absolute return step securities
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| Underlying index: | Euro Stoxx 50 index
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| Amount: | $13,475,530
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| Maturity: | Jan. 31, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the final index level is greater than or equal to the initial index level, par plus the greater of 49% and the index return; if the final index level is less than the initial index level but greater than or equal to the downside threshold level, par plus the absolute value of the index return; otherwise, 1% loss for every 1% that the final index level is less than the initial index level
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| Initial level: | 3,643.04
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| Downside threshold: | 2,550.13, 70% of initial level
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| Pricing date: | Jan. 29
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| Settlement date: | Jan. 31
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 3.5%
|
| Cusip: | 22549D871
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