Published on 9/16/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5.08 million trigger phoenix autocallables on two indexes
By Marisa Wong
Morgantown, W.Va., Sept. 16 – Credit Suisse AG, London Branch priced $5.08 million of trigger phoenix autocallable optimization securities due Sept. 17, 2025 linked to the lesser 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 will pay a contingent coupon at an annual rate of 9.2% if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that quarter.
Beginning one year after issuance, the notes will be called at par 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 exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $5,080,560
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| Maturity: | Sept. 17, 2025
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| Coupon: | 9.2% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon, if any, if each index finishes at or above trigger level; otherwise, full exposure to decline of lesser-performing index
|
| Call option: | At par plus contingent coupon, if any, on any quarterly observation date after one year
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| Initial index levels: | 1,157.792 for Russell, 3,187.94 for Euro Stoxx
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| Coupon barrier levels: | 752.565 for Russell, 2,072.16 for Euro Stoxx; 65% of initial levels
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| Trigger levels: | 578.896 for Russell, 1,593.97 for Euro Stoxx; 50% of initial levels
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| Pricing date: | Sept. 11
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| Settlement date: | Sept. 16
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 3.5%
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| Cusip: | 22548F612
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