Published on 2/11/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5.05 million trigger contingent yield notes linked to three indexes
By Susanna Moon
Chicago, Feb. 11 – Credit Suisse AG, London Branch priced $5.05 million of trigger callable contingent yield notes due Feb. 9, 2018 with daily coupon observation linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and 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 13% if each index closes at or above its coupon barrier level, 65% of its initial level, on each day during the quarterly observation period.
The notes will be callable at par on any coupon payment date other than the final one.
The payout at maturity will be par unless any index finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $5,045,000
|
| Maturity: | Feb. 9, 2018
|
| Coupon: | 13% per year, payable quarterly if each index closes at or above its 65% coupon barrier on each day during that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, 1% loss per 1% decline of worst performing index
|
| Call option: | At par on each quarterly observation date other than final one
|
| Initial levels: | 2,879.39 for Stoxx, 985.618 for Russell and 1,880.05 for S&P
|
| Trigger levels: | 1,871.60 for Stoxx, 640.652 for Russell and 1,222.03 for S&P; 65% of initial levels
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 10
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 1%
|
| Cusip: | 22548J531
|
|
|
|
|
© 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.
