Published on 3/29/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.2 million trigger autocallable contingent yield notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, March 29 – Credit Suisse AG, London Branch priced $4.2 million of 0% trigger autocallable contingent yield notes due March 30, 2020 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each index closes at or above its barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless either index finishes below the downside threshold level, 70% of the initial level, in which case investors will lose 1% for every 1% decline of the worse performing index.
UBS Financial Services Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000, Euro Stoxx 50
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| Amount: | $4.2 million
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| Maturity: | March 30, 2020
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| Coupon: | 8.5%, payable quarterly if each index closes at or above barrier on quarterly observation date
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| Price: | Par of $10
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| Call: | At par if each index closes at or above its initial level on any quarterly observation date after six months
|
| Payout at maturity: | Par plus final coupon unless either index finishes below downside threshold level, in which case 1% loss for every 1% decline of the worse performing index
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| Initial levels: | 1,354.62 for Russell and 3,444.642 for Stoxx
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| Barrier/thresholds; | 948.249 for Russell, 2,410.91 for Stoxx; 70% of initial levels
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| Pricing date: | March 24
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| Settlement date: | March 29
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| Underwriter: | UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 22549A596
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