Published on 4/12/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $12.53 million trigger autocallable contingent yield notes on S&P, Russell
By Devika Patel
Knoxville, Tenn., April 12 – Credit Suisse AG, London Branch priced $12.53 million of trigger autocallable contingent yield notes due April 12, 2019 linked to 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 8.3% 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 if each index closes at or above its initial level on any quarterly observation date beginning Oct. 11, 2016.
The payout at maturity will be par unless either index finishes below the 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Financial Services Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $12,529,790
|
| Maturity: | April 12, 2019
|
| Coupon: | 8.3%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | Beginning Oct. 11, 2016, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par unless index closes below 70% trigger level, in which case full exposure to index loss
|
| Initial levels: | 2,047.60 for S&P, 1,097.314 for Russell
|
| Coupon/trigger level: | 1,433.32 for S&P, 768.120 for Russell, 70% of initial levels
|
| Pricing date: | April 8
|
| Settlement date: | April 13
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 22548R137
|
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