By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Credit Suisse AG, London Branch priced $6.7 million of trigger autocallable contingent yield notes due Dec. 2, 2021 tied to the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 8% if the ETF closes at or above the coupon barrier, 80% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par of $10 plus the coupon if the ETF closes at or above the initial level on any observation date after six months.
If the notes are not called and the final level is greater than or equal to the 80% downside threshold, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% decline.
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 ETF: | iShares Russell 2000 ETF
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| Amount: | $6.7 million
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| Maturity: | Dec. 2, 2021
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| Coupon: | 8%, payable quarterly if ETF closes at or above coupon barrier on quarterly observation date
|
| Level: | Par of $10
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| Call: | At par plus the coupon if ETF closes at or above initial level on any observation date after six months
|
| Payout at maturity: | Par plus final coupon unless ETF finishes below downside threshold, in which case 1% loss for every 1% decline
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| Initial level: | $161.69
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| Coupon barrier: | $129.35, 80% of initial level
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| Downside threshold: | $129.35, 80% of initial level
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| Pricing date: | Nov. 26
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| Settlement date: | Nov. 29
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 1.2%
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| Cusip: | 22550K699
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