By Wendy Van Sickle
Columbus, Ohio, June 28 – Credit Suisse AG, London Branch priced $15 million of 0% step-down trigger autocallable notes due June 30, 2020 linked to the lowest performing of the VanEck Vectors Oil Services ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 13.5% if each ETF closes at or above its initial level on an annual observation date or at or above its 70% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return with full exposure to any losses of the worse performing ETF.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Step-down trigger autocallable notes
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| Underlying ETFs: VanEck Vectors Oil Services ETF and the SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $15 million
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| Maturity: | June 30, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus return with full exposure to any losses of the worse performing ETF
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| Call: | At par plus a call return of 13.5% per year if each ETF closes at or above its initial level on any annual observation date after one year or at or above its70% downside threshold on the final valuation date
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| Initial levels: | $24.31 for VanEck Vectors Oil Services $31.02 for SPDR S&P Oil & Gas Exploration & Production
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| Downside thresholds: | $17.02 for VanEck Vectors Oil Services, $21.71 for SPDR S&P Oil & Gas Exploration & Production; 70% of initial levels
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| Pricing date: | June 23
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| Settlement date: | June 26
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 22549C428
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