Published on 3/30/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $52.85 million trigger autocallable notes on Russell, Stoxx
By Marisa Wong
Morgantown, W.Va., March 30 – Credit Suisse AG, London Branch priced $52.85 million of 0% trigger autocallable contingent yield notes due April 2, 2027 linked to the Russell 2000 index and the Euro Stoxx 50 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 8.7% 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 after one year.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below the downside threshold level, 70% of the initial level, in which case investors will lose 1% for every 1% decline 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: | Russell 2000, Euro Stoxx 50
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| Amount: | $52,845,010
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| Maturity: | April 2, 2027
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| Coupon: | 8.7%, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Call: | At par if each index closes at or above its initial level on any quarterly observation date after one year
|
| Payout at maturity: | Par plus final coupon, if any, unless either index finishes below downside threshold level, in which case 1% loss for every 1% decline of the worse performing index
|
| Initial levels: | 1,371.645 for Russell and 3,475.27 for Stoxx
|
| Coupon barriers: | 960.152 for Russell, 2,432.69 for Stoxx; 70% of initial levels
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| Downside thresholds: | 685.823 for Russell, 1,737.64 for Stoxx; 50% of initial levels
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| Pricing date: | March 29
|
| Settlement date: | March 31
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 22549A588
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