Credit Suisse plans trigger phoenix autocallables tied to two indexes

By Susanna Moon

Chicago, May 4 – Credit Suisse AG plans to price trigger phoenix autocallable optimization securities due May 21, 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.

The notes will pay a contingent quarterly coupon at an annual rate of 7.8% to 8.3% if each index closes at or above its coupon barrier level, 65% of its initial level, on an observation date for that quarter.

The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after one year.

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 contingent coupon.

Otherwise, investors will be exposed to any losses of the worst performing index.

UBS Financial Services Inc. is the distributor.

The notes will price on May 15 and settle on May 20.

The Cusip number is 22547T795.

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