By Wendy Van Sickle
Columbus, Ohio, April 4 – Credit Suisse AG, London Branch priced $3.17 million of trigger callable contingent yield notes due March 31, 2022 linked to the least performing of the Russell 2000 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8% per year if each index’s closing level remains at or above its coupon barrier, 64.5% of its initial level, on the observation date that quarter.
The notes are redeemable at par of $10 plus any coupon on any quarterly observation date other than the final one.
If the notes are not called and each index finishes at or above its 64.5% downside threshold, the payout at maturity will be par plus any coupon. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger callable contingent yield notes
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| Underlying indexes: | Russell 2000 and MSCI Emerging Markets
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| Amount: | $3.17 million
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| Maturity: | March 31, 2022
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| Coupon: | 8% per year, payable quarterly if each index closes at or above its coupon barrier on the observation date that quarter
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par plus coupon if applicable; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
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| Call option: | At par plus any coupon on any quarterly observation date other than final one
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| Initial index levels: | 1,522.231 for Russell 2000 and 1,044.1 for MSCI Emerging Markets
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| Coupon barriers: | 981.839 for Russell 2000 and 673.44 for MSCI Emerging Markets; 64.5% of initial levels
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| Downside thresholds: | 981.839 for Russell 2000 and 673.44 for MSCI Emerging Markets; 64.5% of initial levels
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| Pricing date: | March 27
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| Settlement date: | March 29
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 1.75%
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| Cusip: | 22550F104
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