Published on 10/4/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.08 million trigger autocallable contingent yield notes on S&P
By Kiku Steinfeld
Chicago, Oct. 4 – Credit Suisse AG, London Branch priced $4.08 million of trigger autocallable contingent yield notes due Sept. 10, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 9.4% if the index closes at or above the coupon barrier, 80% of the initial level, on the related observation date.
The notes will be automatically called at par of $10 plus the coupon if the index closes at or above its initial level on any observation date after six months.
If the notes are not called and the final index level is greater than or equal to the 80% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the index.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying index: | S&P 500
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| Amount: | $4,077,000
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| Maturity: | Sept. 10, 2021
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| Coupon: | 9.4%, payable quarterly if index closes at or above coupon barrier on related observation date
|
| Level: | Par of $10
|
| Call: | At par plus coupon if index close at or above initial level on any observation date after six months
|
| Payout at maturity: | Par unless index finishes below downside threshold, in which case 1% loss for every 1% decline
|
| Initial level: | 2,978.71
|
| Coupon barrier: | 2,382.97, 80% of initial level
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| Downside threshold: | 2,382.97, 80% of initial level
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| Pricing date: | Sept. 6
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| Settlement date: | Sept. 11
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 22550K293
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