By Wendy Van Sickle
Columbus, Ohio, June 17 – Credit Suisse AG, London Branch priced $14.72 million of trigger autocallable contingent yield notes due June 16, 2022 linked to 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 11.56% if the index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par of $10 if the 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 the index finishes below the downside threshold level, 70% of its initial level, in which case investors will lose 1% for every 1% loss of the 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 index: | S&P 500 index
|
| Amount: | $14,724,500
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| Maturity: | June 16, 2022
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| Coupon: | 11.56%, payable quarterly if index closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Call: | At par if index closes at or above initial level on any quarterly observation after six months
|
| Payout at maturity: | Par unless index finishes below downside threshold, in which case 1% loss for each 1% decline
|
| Initial index level: | 3,041.31
|
| Coupon barrier: | 2,128.92; 70% of initial level
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| Downside threshold: | 2,128.92; 70% of initial level
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| Pricing date: | June 12
|
| Settlement date: | June 17
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 0%
|
| Cusip: | 22550V778
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