By Tali Rackner
Norfolk, Va., Jan. 21 – Credit Suisse AG, London Branch priced $537,000 of trigger phoenix autocallable optimization securities due Jan. 22, 2018 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the fund closes at or above its coupon barrier level, 74% of its initial level, on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial level on any quarterly observation date after three months.
The payout at maturity will be par plus the final contingent coupon unless the fund finishes below its 74% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying fund: | Financial Select Sector SPDR fund
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| Amount: | $537,000
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| Maturity: | Jan. 22, 2018
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| Coupon: | 8%, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if fund finishes at or above trigger level; otherwise, full exposure to losses
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| Call: | At par if fund closes at or above its initial level on any quarterly observation date after three months
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| Initial levels: | $21.42
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| Coupon barrier/trigger levels: | $15.85; 74% of initial level
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| Pricing date: | Jan. 15
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| Settlement date: | Jan. 21
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 22548J432
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