By Susanna Moon
Chicago, July 31 – Credit Suisse AG, London Branch priced $3.39million of 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.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date beginning 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 contingent coupon.
Otherwise, 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 autocallable optimization securities
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $3,388,000
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| Maturity: | July 31, 2025
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| Coupon: | 7% 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 plus coupon; otherwise, full exposure to losses of worst performing index
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| Call: | At par if each index closes at or above initial level on any quarterly observation date after one year
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| Barrier levels: | 70% of initial levels
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| Trigger levels: | 50% of initial levels
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| Pricing date: | July 29
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| Settlement date: | July 31
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 22548F430
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