Published on 3/16/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.40 million contingent yield trigger autocalls on S&P, Russell
New York, March 16 – Credit Suisse AG, London Branch priced $3.40 million of trigger autocallable contingent yield notes due March 14, 2023 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% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
After one year, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par plus any coupon unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse 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
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $3,397,760
|
| Maturity: | March 14, 2023
|
| Coupon: | 7%, payable quarterly if each index closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
|
| Call: | After one year months, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date other than the final one
|
| Payout at maturity: | Par plus any coupon unless index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Initial levels: | 1,597.142 for Russell, 2,786.57 for S&P
|
| Coupon barriers/downside thresholds: | 1,117.999 for Russell, 1,950.60 for S&P; 70% of initial levels
|
| Pricing date: | March 9
|
| Settlement date: | March 14
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 22549E721
|
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