Published on 4/3/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $6.25 million 9.35% contingent yield trigger callables on three indexes
By Susanna Moon
Chicago, April 3 – Credit Suisse AG, London Branch priced $6.25 million of trigger callable contingent yield notes with daily coupon observation due March 19, 2021 linked to the lesser 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.
The notes will pay a contingent quarterly coupon at an annual rate of 9.35% if each index closes at or above its 65% coupon barrier on each observation day for that quarter.
The notes are callable at par on any quarterly observation date other than the final date.
The payout at maturity will be par unless any index finishes below its 60% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index.
UBS Financial Services Inc. is the 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 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $6,251,000
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| Maturity: | March 19, 2021
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| Coupon: | 9.35%, payable quarterly if each index closes at or above 65% coupon barrier each observation day during quarter
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| Price: | Par of $10
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| Call option: | At par plus contingent coupon on any quarterly observation date other than the final date
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| Payout at maturity: | Par unless any index closes below 60% downside threshold, in which case 1% loss for each 1% decline of worst performing index
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| Initial levels: | 1,651.21 for S&P, 1,586.048 for Russell and 3,437.40 for Stoxx
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| Coupon barriers: | 1,788.81 for S&P, 1,030.931 for Russell and 2,234.31 for Stoxx; 65% of initial levels
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| Downside thresholds: | 1,651.21 for S&P, 951.629 for Russell and 2,062.44 for Stoxx; 60% of initial levels
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| Pricing date: | March 16
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| Settlement date: | March 22
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| Agent: | UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 22549E820
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