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Credit Suisse to price phoenix autocallables linked to Amgen
By Marisa Wong
Madison, Wis., May 7 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due May 14, 2018 linked to Amgen Inc. shares, 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 Amgen stock closes at or above the trigger level, 68% to 73% of the initial level, on an 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 a quarterly observation date after six months.
If the notes are not called and Amgen shares finish at or above the 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.
The notes will price on May 8 and settle on May 13.
The Cusip number is 22547T860.
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