Published on 1/29/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $11.54 million trigger phoenix autocallables linked to two indexes
By Angela McDaniels
Tacoma, Wash., Jan. 29 – Credit Suisse AG, London Branch priced $11.54 million of trigger phoenix autocallable optimization securities due Jan. 31, 2025 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.32% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
Beginning Jan. 27, 2016, the notes will be called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and each index finishes at or above its 50% trigger level, the payout at maturity will be par plus the final coupon, if any. Otherwise, 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 index and Euro Stoxx 50 index
|
| Amount: | $11,539,150
|
| Maturity: | Jan. 31, 2025
|
| Coupon: | 8.32% per year, payable quarterly if each index closes at or above trigger level on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon, if any, if each index finishes at or above trigger level; otherwise, full exposure to decline of worst-performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date from Jan. 27, 2016 onward
|
| Initial levels: | 1,175.115 for Russell 2000 and 3,358.96 for Euro Stoxx 50
|
| Coupon barriers: | 822.581 for Russell 2000 and 2,351.27 for Euro Stoxx 50; 70% of initial levels
|
| Trigger levels: | 587.558 for Russell 2000 and 1,679.48 for Euro Stoxx 50; 50% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 30
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 22547T654
|
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