By Susanna Moon
Chicago, March 20 – Credit Suisse AG, London Branch priced $2.18 million of trigger autocallable contingent yield notes due March 5, 2021 linked to CVS Health Corp. stock, 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% if the stock closes at or above its 66.8% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below its 66.8% downside threshold, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | CVS Health Corp. (Symbol: CVS)
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| Amount: | $2,175,670
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| Maturity: | March 5, 2021
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| Contingent coupon: | 8%, payable quarterly if stock closes at or above 66.8% coupon barrier on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless stock finishes below downside threshold, in which case 1% loss for each 1% decline
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| Call: | At par if stock closes at or above initial level on any quarterly observation date after six months
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| Initial price: | $67.46
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| Downside threshold: | $45.06, 66.8% of initial price
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| Pricing date: | March 2
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| Settlement date: | March 7
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| Agent: | UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 22549E648
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