Published on 10/25/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $13.08 million 7.85% contingent yield trigger autocalls on two indexes
By Susanna Moon
Chicago, Oct. 25 – Credit Suisse AG, London Branch priced $13.08 million of trigger autocallable contingent yield notes due Oct. 8, 2020 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.85% if each index closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be called 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 unless either index finishes below its 80% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $13,079,100
|
| Maturity: | Oct. 8, 2020
|
| Coupon: | 7.85% annualized, payable quarterly if each index closes at or above 80% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss per 1% decline of worse performing index
|
| Call: | At par if each index closes at or above its initial level on each quarterly observation date after six months
|
| Initial levels: | 2,885.57 for S&P, 1,632.112 for Russell
|
| Downside thresholds: | 2,308.46 for S&P, 1,305.69 for Russell, 80% of initial levels
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 11
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 22549R482
|
|
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
