Credit Suisse plans trigger autocallable contingent yield notes on ETFs

By Tali Rackner

Minneapolis, Jan. 5 – Credit Suisse AG, London Branch plans to price trigger autocallable contingent yield notes due Jan. 15, 2021 linked to the lesser performing of the SPDR Euro Stoxx 50 exchange-traded fund and the iShares Russell 2000 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annualized rate of 6.2% to 7.2% if each ETF closes at or above the coupon barrier, 70% of the initial share price, on the observation date for that quarter.

The notes will be automatically called at par of $10 if each ETF closes at or above its initial share price on any quarterly observation date after six months.

If the notes are not called and the final share price of each ETF is greater than or equal to the 70% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the lesser-performing ETF.

UBS Financial Services Inc. is the agent.

The notes will price on Jan. 12 and settle on Jan. 18.

The Cusip number is 22549E135.

© 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.