Published on 5/19/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4 million contingent yield trigger autocallables tied to indexes
By Susanna Moon
Chicago, May 19 – Credit Suisse AG, London branch priced $4 million of trigger autocallable contingent yield notes due May 16, 2019 linked to the worse performing of 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 7.2% 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 Nov. 13, 2017.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Financial Services Inc. is the underwriter.
| Issuer: | Credit Suisse AG, London branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000, Euro Stoxx 50
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| Amount: | $4 million
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| Maturity: | May 16, 2019
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| Coupon: | 7.2%, payable quarterly if each index closes at or above 70% coupon barrier on observation date
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| Price: | Par of $10
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after six months
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| Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
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| Initial levels: | 1,390.196 for Russell, 3,623.55 for Stoxx
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| Downside thresholds: | 973.137 for Russell, 2,536.49 for Stoxx; 70% of initial levels
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| Pricing date: | May 11
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| Settlement date: | May 16
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| Agents: | UBS Financial Services Inc.
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| Fees: | 1.25%
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| Cusip: | 22549C147
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