Credit Suisse plans trigger phoenix autocallables linked to indexes

By Marisa Wong

Madison, Wis., July 16 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due July 31, 2025 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 6.55% to 7.15% per year and will be set at pricing.

Beginning one year after issuance, 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 contingent coupon, if any. Otherwise, investors will be fully exposed to the decline of the least-performing index.

UBS Financial Services Inc. is acting as distributor.

The notes will price on July 29 and settle on July 31.

The Cusip number is 22548F430.

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