By Angela McDaniels
Tacoma, Wash., Oct. 29 – Credit Suisse AG, London Branch priced $6.42 million of trigger phoenix autocallable optimization securities due Oct. 30, 2019 linked to the common units of Blackstone Group LP, according to a 424B2 filing with the Securities and Exchange Commission.
If Blackstone’s units close at or above the trigger price, 67% of the initial unit price, on a monthly observation date, the issuer will pay a contingent coupon for that month at the rate of 9% per year. Otherwise, no coupon will be paid that month.
Beginning one year after issuance, the notes will be called at par of $10 plus the contingent coupon if the units close at or above the initial price on a monthly observation date.
If the notes are not called and Blackstone units finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the unit price decline from the initial price.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying units: | Blackstone Group LP (Symbol: BX)
|
| Amount: | $6,424,000
|
| Maturity: | Oct. 30, 2019
|
| Coupon: | 9% per year, payable monthly if units close at or above trigger price on observation date for that month
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if Blackstone units finish at or above trigger price; otherwise, par plus units return
|
| Call: | Beginning one year after issuance, automatically at par plus contingent coupon if Blackstone units close at or above initial price on any monthly observation date
|
| Initial unit price: | $30.66
|
| Trigger price: | $20.54, 67% of initial unit price
|
| Pricing date: | Oct. 24
|
| Settlement date: | Oct. 29
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 22547T290
|
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