By Angela McDaniels
Tacoma, Wash., May 11 – Credit Suisse AG, London Branch priced $1.42 million of 8.7% airbag autocallable yield notes due May 12, 2017 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called automatically at par if SPDR S&P Oil & Gas Exploration & Production shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of ETF shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Airbag autocallable yield notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production (Symbol: XOP)
|
| Amount: | $1,421,000
|
| Maturity: | May 12, 2017
|
| Coupon: | 8.7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than conversion price, in which case 37.4953 SPDR S&P Oil & Gas Exploration & Production shares
|
| Call: | Automatically at par if ETF shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $33.34
|
| Conversion price: | $26.67, 80% of initial share price
|
| Pricing date: | May 6
|
| Settlement date: | May 11
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 22548R368
|
© 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.
