Credit Suisse plans trigger phoenix autocallables linked to UPS

By Toni Weeks

San Luis Obispo, Calif., June 3 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due June 11, 2020 linked to United Parcel Service, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 6% if the stock price on any monthly observation date is equal to or greater than the coupon barrier, 80% to 85% of the initial share price.

The notes will be called at par if United Parcel Service shares close at or above the initial share price on any monthly observation date after one year.

If the notes are not called, the payout at maturity will be par if the final share price is equal to or greater than the 80% to 85% trigger price.

If the final price is less than the trigger price, investors will be fully exposed to the decline in the stock price from the initial share price.

The exact terms will be set at pricing.

UBS Financial Services Inc. is the distributor.

The notes (Cusip: 22548F273) will price June 5 and settle June 10.

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