Published on 5/5/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.29 million trigger autocallables tied to S&P 500, Euro Stoxx
By Marisa Wong
Morgantown, W.Va., May 5 – Credit Suisse AG, London Branch priced $3.29 million of trigger autocallable contingent yield notes due April 30, 2019 linked to the S&P 500 index and the Euro Stoxx 50 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 7.7% if each 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 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 the 70% downside threshold level, in which case investors will be fully exposed to the losses of the worse-performing index.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $3,287,400
|
| Maturity: | April 30, 2019
|
| Coupon: | 7.7%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to losses of worse-performing index
|
| Call: | After six months, automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
| Initial levels: | 2,095.15 for S&P 500, 3,130.43 for Euro Stoxx
|
| Coupon barriers: | 1,466.61 for S&P 500, 2,191.30 for Euro Stoxx, 70% of initial levels
|
| Downside thresholds: | 1,466.61 for S&P 500, 2,191.30 for Euro Stoxx, 70% of initial levels
|
| Pricing date: | April 27
|
| Settlement date: | April 29
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 22548R236
|
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