Published on 11/28/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $15.17 million trigger callable notes on indexes
By Marisa Wong
Morgantown, W.Va., Nov. 28 – Credit Suisse AG, London Branch priced $15.17 million of trigger callable contingent yield notes with daily coupon observation due May 29, 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 10% 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 55% 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: | $15,174,500
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| Maturity: | May 29, 2019
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| Coupon: | 10%, payable quarterly if each index closes at or above coupon barrier on each day during quarter
|
| 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
|
| Call option: | At par quarterly
|
| Initial levels: | 2,198.18 for S&P, 1,322.234 for Russell, 3,032.97 for Stoxx
|
| Coupon barrier levels: | 1,428.82 for S&P, 859.452 for Russell, 1,971.43 for Stoxx; 65% of initial levels
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| Downside thresholds: | 1,209.00 for S&P, 727.229 for Russell and 1,668.13 for Stoxx; 55% of initial levels
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| Pricing date: | Nov. 21
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| Settlement date: | Nov. 29
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 1%
|
| Cusip: | 22548T695
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