Published on 5/14/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3 million trigger phoenix callable notes linked to three indexes
By Susanna Moon
Chicago, May 14 – Credit Suisse AG, London Branch priced $3 million of trigger phoenix callable optimization securities due May 16, 2025 linked to the least performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its barrier level, 60% of its initial level, on a quarterly observation date, the notes will pay a contingent coupon at an annual rate of 10.3% for that quarter.
The notes are callable at par on any quarterly observation date after three months.
The payout at maturity will be par unless any index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger phoenix callable optimization securities
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| Underlying indexes: | S&P 500, Euro Stoxx 50 and Russell 2000
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| Amount: | $3 million
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| Maturity: | May 16, 2025
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| Coupon: | 10.3% annualized for each quarter that each index closes at or above coupon barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, full exposure to losses of worst performing index
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| Call option: | At on any quarterly observation date after three months
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| Initial levels: | 2,105.33 for S&P, 1,235.832 for Russell and 3,624.41 for Euro Stoxx
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| Barrier levels: | 1,263.20 for S&P, 741.499 for Russell and 2,174.65 for Euro Stoxx; 60% of initial levels
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| Pricing date: | May 11
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| Settlement date: | May 14
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| Dealer: | UBS Financial Services Inc.
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| Fees: | 1%
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| Cusip: | 22548D716
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