Credit Suisse plans trigger phoenix autocallable notes linked to CVS

By Susanna Moon

Chicago, Dec. 24 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due Dec. 31, 2018 linked to CVS Health Corp. shares, according to a 424B2 with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 7% if CVS stock closes at or above the coupon barrier level – 76% to 80% of the initial price – on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date after six months.

The payout at maturity will be par plus the contingent coupon unless CVS shares finish below the 76% to 80% trigger level, in which case investors will be fully exposed to any losses.

UBS Financial Services Inc. will be the distributor.

The notes will price on Dec. 29 and settle on Dec. 31.

The Cusip number is 22548J358.

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