By Marisa Wong
Madison, Wis., Dec. 1 – Credit Suisse AG, London Branch priced $19.9 million of trigger phoenix autocallable optimization securities due Dec. 3, 2024 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its 70% coupon barrier on any quarterly observation date, the notes will pay a contingent coupon at an annualized rate of 9% for that quarter.
The notes are callable at par on any quarterly observation date after one year if the closing level of each underlying index is equal to or greater than its respective initial level.
If the notes are not called, the payout at maturity will be par plus the contingent coupon unless the worst-performing index finishes below the 50% trigger level, in which case investors will be exposed to the decline of the worst-performing index.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $19,895,680
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| Maturity: | Dec. 3, 2024
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| Coupon: | 9% annualized for each quarter that each index closes at or above coupon barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, full exposure to losses of worst performing index
|
| Call: | At par if each index closes at or above initial level on any quarterly observation date after one year
|
| Initial levels: | 1,190.624 for Russell and 3,226.08 for Euro Stoxx
|
| Coupon barriers: | 70% of initial levels
|
| Trigger levels: | 50% of initial levels
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| Pricing date: | Nov. 26
|
| Settlement date: | Dec. 2
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| Distributor: | UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 22547T431
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