By Susanna Moon
Chicago, May 1 – Credit Suisse AG, London Branch priced $373,000 of trigger phoenix autocallable optimization securities due April 30, 2020 linked to Yahoo! Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7% if Yahoo stock closes at or above the trigger level, 75.5% of the initial level, on an observation date for that month.
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 after one year.
If the notes are not called and Yahoo shares finish at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be exposed to any losses.
UBS Financial Services Inc. is the distributor.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger phoenix autocallable optimization securities
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Underlying stock: | Yahoo! Inc. (Symbol: YHOO)
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Amount: | $373,000
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Maturity: | April 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 stock finishes at or above trigger level; otherwise, par plus stock return
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Call: | At par plus contingent coupon if shares close at or above initial price on any monthly observation date after one year
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Initial level: | $44.34
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Trigger level: | $33.48, 75.5% of initial share price
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Trade date: | April 28
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Settlement date: | April 30
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Distributor: | UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 22547T787
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