Published on 8/31/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.41 million trigger autocallable contingent notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – Credit Suisse AG, London Branch priced $1.41 million of trigger autocallable contingent yield notes due Aug. 31, 2020 linked to the Russell 2000 index and the S&P 500 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 7.5% if each index closes at or above its coupon barrier level, 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 six months.
The payout at maturity will be par plus the final coupon unless either index finishes below the downside threshold, 70% of the initial level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Financial Services Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $1,408,000
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| Maturity: | Aug. 31, 2020
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| Coupon: | 7.5%, payable quarterly if each index closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
|
| Call: | After six months, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par plus final coupon unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of the worst performing index from initial level
|
| Initial levels: | 1,383.681 for Russell, 2,446.30 for S&P
|
| Coupon barriers: | 968.577 for Russell, 1,712.41 for S&P, 70% of initial levels
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| Downside thresholds: | 968.577 for Russell, 1,712.41 for S&P, 70% of initial levels
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| Pricing date: | Aug. 29
|
| Settlement date: | Aug. 31
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 22549C824
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