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Credit Suisse to price trigger phoenix autocallables based on Pfizer
New York, July 7 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due July 16, 2020 linked to Pfizer Inc. shares, according to a 424B2 with the Securities and Exchange Commission.
If Pfizer stock closes at or above the coupon barrier level – 79% to 84% of the initial price – on any monthly observation date, the notes will pay a contingent coupon at an annualized rate of 7% 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 Pfizer shares finish at or above the 79% to 84% 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: 22548F406) will price on July 10 and settle on July 15.
UBS Financial Services Inc. will act as distributor.
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