By Marisa Wong
Madison, Wis., May 12 – Credit Suisse AG, London Branch priced $3.89 million of trigger phoenix autocallable optimization securities due May 14, 2018 linked to Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter the notes will pay a contingent coupon at an annual rate of 8% if Facebook stock closes at or above the barrier level, 70.5% of the initial level, on the observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date after six months.
If the notes are not called and Facebook shares finish at or above the 70.5% trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be exposed to any losses.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Facebook, Inc. (Symbol: FB)
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| Amount: | $3,890,350
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| Maturity: | May 14, 2018
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| Coupon: | 8% per year, payable quarterly if stock closes at or above barrier price on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if stock finishes at or above trigger level; otherwise, par plus stock return
|
| Call: | At par plus contingent coupon if shares close at or above initial price on any quarterly observation date after six months
|
| Initial level: | $78.51
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| Barrier/trigger level: | $55.35, 70.5% of initial share price
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| Trade date: | May 8
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| Settlement date: | May 13
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| Distributor: | UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 22547T852
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