By Wendy Van Sickle
Columbus, Ohio, Dec. 17 – Credit Suisse AG, London Branch priced $25.02 million of trigger autocallable contingent yield notes due Dec. 15, 2026 linked to the least performing of the SPDR S&P Regional Banking ETF and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 7.25% per year if each ETF closes at or above its coupon barrier, 70% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if each ETF closes at or above its initial level on any quarterly call observation date after six months.
If the notes are not called and the final level of each ETF is greater than or equal to the coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but at or above the downside threshold level, 60% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
UBS Financial Services Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying funds: | SPDR S&P Regional Banking ETF, SPDR S&P 500 ETF Trust
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| Amount: | $25,024,170
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| Maturity: | Dec. 15, 2026
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| Coupon: | 7.25% per year, paid quarterly, if each ETF closes at or above its coupon barrier on any related observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus final coupon if each ETF finishes at or above coupon barrier; if worst performer finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for each 1% decline of laggard ETF from initial level
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| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly call observation date after six months
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| Initial levels: | $70.51 for Banking ETF, $470.74 for ETF Trust
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| Coupon barrier levels: | $49.36 for Banking ETF, $329.52 for ETF Trust; 70% of initial levels
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| Downside thresholds: | $42.31 for Banking ETF, $282.44 for ETF Trust; 60% of initial levels
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| Pricing date: | Dec. 10
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| Settlement date: | Dec. 15
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| Agent: | UBS Financial Services Inc.
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| Fees: | 2.25%
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| Cusip: | 22551G838
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