By Wendy Van Sickle
Columbus, Ohio, Nov. 7 – Credit Suisse AG, London Branch priced $1.1 million of trigger autocallable contingent yield notes due Nov. 5, 2021 linked to the common stock of Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 8% if the shares close at or above the coupon barrier, 72.5% of the initial level, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if the stock closes 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 72.5% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline.
UBS Financial Services Inc. will act as distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying stock: | Home Depot, Inc.
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Amount: | $1,096,500
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Maturity: | Nov. 5, 2021
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Coupon: | 8%, payable quarterly if shares close at or above coupon barrier on observation date
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Price: | Par of $10
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Call: | After six months, at par if shares close at or above initial price on any observation date
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Payout at maturity: | Par plus final coupon unless stock finishes below downside threshold, in which case 1% loss for every 1% decline
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Initial price: | $179.93
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Coupon barrier/downside threshold: | $130.45, 72.5% of initial price
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Pricing date: | Nov. 2
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Settlement date: | Nov. 7
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Distributor: | UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 22549R789
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