By Wendy Van Sickle
Columbus, Ohio, Oct. 13 – Credit Suisse AG, London Branch priced $10 million of trigger autocallable contingent yield notes due Oct. 11, 2019 linked to the iShares Russell 2000 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if the ETF closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless the ETF finishes below the 70% downside threshold level, in which case investors will be fully exposed to the losses.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying fund: | iShares Russell 2000 ETF
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| Amount: | $10 million
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| Maturity: | Oct. 11, 2019
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| Coupon: | 7%, payable quarterly if the ETF closes at or above coupon barrier on observation date
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| Price: | Par of $10
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| Payout at maturity: | Par unless fund finishes below downside threshold level, in which case full exposure to losses
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| Call: | Automatically at par plus contingent coupon if ETF closes at or above initial level on any quarterly observation date after one year
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| Initial level: | $122.83
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| Coupon/downside threshold: | $85.98, 70% of initial level
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| Pricing date: | Oct. 7
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| Settlement date: | Oct. 13
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 22548T398
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