Published on 9/21/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $8.38 million trigger autocallables tied to S&P 500
By Marisa Wong
Morgantown, W.Va., Sept. 21 – Credit Suisse AG, London Branch priced $8.38 million of 0% trigger autocallable notes due Sept. 21, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus 8% per year if the index closes at or above its initial level on any quarterly call observation date.
If the notes are not called and the final index level is greater than or equal to the downside threshold, 75% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final index level is below the initial level.
UBS Financial Services Inc. is acting as distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger autocallable notes
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Underlying index: | S&P 500
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Amount: | $8,375,250
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Maturity: | Sept. 21, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If notes are not called and final index level is greater than or equal to downside threshold, par; otherwise, 1% loss for every 1% that final index level is below initial level
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Call: | Automatically called at par plus 8% per year if index closes at or above initial level on any quarterly call observation date
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Initial index level: | 2,139.16
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Downside threshold: | 1,604.37, 75% of initial level
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Pricing date: | Sept. 16
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Settlement date: | Sept. 21
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Distributor: | UBS Financial Services Inc.
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Fees: | 1.5%
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Cusip: | 22548T216
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