Published on 12/13/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5.26 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 13 – Credit Suisse AG, London Branch priced $5.26 million of trigger autocallable contingent yield notes due Dec. 13, 2019 linked to the S&P 500 index and the Russell 2000 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 7.4% 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% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | S&P 500 and the Russell 2000
|
| Amount: | $5,262,090
|
| Maturity: | Dec. 13, 2019
|
| Coupon: | 7.4%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | After six months, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par unless index closes below trigger level, in which case 1% loss for each 1% decline of worse performing index
|
| Initial levels: | 2,259.53 for S&P, 1,388.073 for Russell
|
| Coupon/trigger level: | 1,581.67 for S&P, 971.651 for Russell, 70% of initial levels
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 14
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 22548T786
|
|
|
© 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.
