Credit Suisse plans trigger phoenix autocallables on SPDR S&P Bank ETF

By Angela McDaniels

Tacoma, Wash., March 15 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due March 23, 2018 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 8.5% to 9.5% per year if the ETF closes at or above its barrier level, 75% of its initial share price, on the observation date for that quarter. The exact contingent coupon rate will be set at pricing.

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

If the final share price is greater than or equal to the barrier level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the ETF’s decline.

UBS Financial Services Inc. will act as distributor.

The notes will price March 18.

The Cusip number is 22548J804.

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