By Angela McDaniels
Tacoma, Wash., Oct. 30 – Credit Suisse AG, London Branch priced $3.17 million of trigger phoenix autocallable optimization securities due Oct. 30, 2020 linked to the common stock of Wal-Mart Stores, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Wal-Mart stock closes at or above the trigger price, 75.25% of the initial share price, on a monthly observation date, the issuer will pay a contingent coupon for that month at the rate of 7% per year. Otherwise, no coupon will be paid that month.
After one year, the notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on a monthly observation date.
If the notes are not called and Wal-Mart shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. is distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger phoenix autocallable optimization securities
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Underlying stock: | Wal-Mart Stores, Inc. (Symbol: WMT)
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Amount: | $3,168,000
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Maturity: | Oct. 30, 2020
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Coupon: | 7% per year, payable monthly if stock closes at or above trigger price on observation date for that month
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Price: | Par of $10.00
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Payout at maturity: | Par plus contingent coupon if Wal-Mart shares finish at or above trigger price; otherwise, par plus stock return
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Call: | Automatically at par plus contingent coupon if Wal-Mart shares close at or above initial price on any monthly observation date
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Initial share price: | $57.64
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Trigger price: | $43.37, 75.25% of initial share price
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Pricing date: | Oct. 28
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Settlement date: | Oct. 30
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Distributor: | UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 22548F794
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