Published on 8/30/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5.31 million trigger callable notes on indexes
By Marisa Wong
Morgantown, W.Va., Aug. 30 – Credit Suisse AG, London Branch priced $5.31 million of trigger callable contingent yield notes due Aug. 31, 2018 with daily coupon observation linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 10% if each index closes at or above its coupon barrier, 65% of its initial level, on each day during the observation period for that quarter.
The notes are callable at par on any quarterly observation date other than the final date.
The payout at maturity will be par unless any index finishes below its 65% downside threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger callable contingent yield notes with daily coupon observation
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50
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| Amount: | $5.31 million
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| Maturity: | Aug. 31, 2018
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| Coupon: | 10%, payable quarterly if each index closes at or above coupon barrier on each day during the observation period for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless any index finishes below downside threshold, in which case full exposure to any losses of worst performing index
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| Call option: | At par on any quarterly observation date other than final date
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| Initial levels: | 1,238.031 for Russell, 2,169.04 for S&P and 3,010.36 for Stoxx
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| Barrier/downside thresholds: | 804.720 for Russell, 1,409.88 for S&P and 1,956.73 for Stoxx; 65% of initial levels
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 22548R889
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