Credit Suisse plans trigger phoenix autocallables linked to Facebook

By Angela McDaniels

Tacoma, Wash., Sept. 9 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due Sept. 17, 2020 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If Facebook stock closes at or above the trigger price, 57% to 62% of the initial share price, on a monthly observation date, the issuer will pay a contingent coupon for that month at the rate of 9% per year. Otherwise, no coupon will be paid that month. The exact trigger price will be set at pricing.

Beginning a year after issuance, 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 monthly observation date.

If the notes are not called and Facebook shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.

UBS Financial Services Inc. is acting as distributor.

The notes will price Sept. 11 and settle Sept. 16.

The Cusip number is 22548F653.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.