Published on 11/21/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5 million trigger callable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Nov. 21 – Credit Suisse AG, London Branch priced $5 million of trigger callable contingent yield notes with daily coupon observation due Nov. 25, 2019 linked to the least performing of the S&P 500 index, 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 pay a contingent coupon at an annual rate of 11% if each index closes at or above its coupon barrier, 65% of its initial level, on each day during that quarter.
The notes are callable at par quarterly.
The payout at maturity will be par unless any index finishes below its 60% 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: | S&P 500, Russell 2000 and Euro Stoxx 50
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| Amount: | $5 million
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| Maturity: | Nov. 25, 2019
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| Coupon: | 11%, payable quarterly if each index closes at or above coupon barrier on each day during 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 quarterly
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| Initial levels: | 2,187.12 for S&P, 1,309.484 for Russell, 3,041.79 for Stoxx
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| Coupon barrier levels: | 1,421.63 for S&P, 851.165 for Russell, 1,977.16 for Stoxx; 65% of initial levels
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| Downside thresholds: | 1,312.27 for S&P, 785.690 for Russell and 1,825.07 for Stoxx; 60% of initial levels
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 25
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 1%
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| Cusip: | 22548T687
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