Credit Suisse to price trigger phoenix autocallables on Philip Morris

By Toni Weeks

San Luis Obispo, Calif., June 10 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due June 18, 2020 linked to Philip Morris International Inc. shares, according to an FWP with the Securities and Exchange Commission.

If Philip Morris stock closes at or above the coupon barrier level – 77% to 82% of the initial price – on any monthly observation date, the notes will pay a contingent coupon at an annualized rate of 8% for that month.

If the shares close at or above the initial price on any monthly observation date after one year, the notes will be called at par plus the contingent coupon.

If the notes are not called and Philip Morris shares finish at or above the 77% to 82% trigger price, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be fully exposed to any losses.

The notes (Cusip: 22548F323) will price June 12 and settle June 17.

UBS Financial Services Inc. will act as distributor.

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