By Susanna Moon
Chicago, Dec. 31 – Credit Suisse AG, London Branch priced $580,000 of trigger phoenix autocallable optimization securities due Dec. 31, 2018 linked to CVS Health Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7% if the stock closes at or above the coupon barrier level – 78.5% of the initial price – on an 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 78.5% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. will be the distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | CVS Health Corp. (Symbol: CVS)
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| Amount: | $580,000
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| Maturity: | Dec. 31, 2018
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| Coupon: | 7%, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if CVS shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if CVS shares close at or above initial price on a quarterly observation date after six months
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| Initial share price: | $99.36
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| Barrier level: | $78.00, 78.5% of initial price
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| Pricing date: | Dec. 29
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| Settlement date: | Dec. 31
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 22548J358
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