Published on 6/9/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $9.76 million trigger phoenix callable notes on three indexes
By Marisa Wong
Madison, Wis., June 9 – Credit Suisse AG, London Branch priced $9.76 million of trigger phoenix callable optimization securities due June 11, 2019 linked to the S&P 500 index, the Russell 2000 index and the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its barrier level, 60% of its initial level, on a quarterly observation date, the issuer will pay a contingent coupon at an annualized rate of 8% for that quarter. Otherwise, no coupon will be paid that quarter.
The notes are callable on any coupon payment date.
If the notes are not called, the payout at maturity will be par plus the contingent coupon unless any index falls by more than 40%, in which case investors will be exposed to the decline of the worst-performing index from its initial level.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger phoenix callable optimization securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and MSCI EAFE index
|
| Amount: | $9,755,000
|
| Maturity: | June 11, 2019
|
| Coupon: | 8% per year, payable quarterly if each index closes at or above its barrier level on quarterly observation date; otherwise, no coupon will be paid that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon unless any index falls by more than 40%, in which case full exposure to the decline of the worst-performing index from its initial level
|
| Call option: | On any coupon payment date
|
| Initial levels: | 2,092.83 for S&P, 1261.007 for Russell, 1,865.80 for MSCI EAFE
|
| Barrier/trigger levels: | 1,255.70 for S&P, 756.604 for Russell, 1,119.48 for MSCI EAFE; 60% of initial levels
|
| Pricing date: | June 5
|
| Settlement date: | June 10
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 22548F240
|
|
|
© 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.
