Published on 6/1/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.96 million trigger phoenix autocallables on Russell, Euro Stoxx
By Susanna Moon
Chicago, June 1 – Credit Suisse AG, London Branch priced $4.96 million of trigger phoenix autocallable optimization securities due May 29, 2020 linked to the worst performing of 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% if each index closes at or above its coupon barrier level, 65% 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 one year.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $4,961,500
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| Maturity: | May 29, 2020
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| Coupon: | 8% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above trigger level, par plus final contingent coupon, if any; otherwise, full exposure to losses of worse performing index
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| Call: | At par if each index closes at or above initial level on any quarterly observation date after one year
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| Initial levels: | 1,254.357 for Russell and 3,682.87 for Euro Stoxx
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| Barrier levels: | 815.332 for Russell and 2,393.87 for Euro Stoxx; 65% of initial levels
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| Pricing date: | May 27
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| Settlement date: | May 29
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 22548F141
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