By Wendy Van Sickle
Columbus, Ohio, May 23 – Credit Suisse AG, London Branch leveld $10 million of trigger autocallable contingent yield notes due May 25, 2022 linked to the Euro Stoxx 50 index, 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 6% if the index closes at or above the coupon barrier, 70% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par of $10 if the index closes at or above the initial share level on any observation date after one year.
If the notes are not called and the final share level is greater than or equal to the 70% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline.
UBS Financial Services Inc. will act as distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying index: | Euro Stoxx 50
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| Amount: | $10 million
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| Maturity: | May 25, 2022
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| Coupon: | 6%, payable quarterly if index closes at or above coupon barrier on observation date
|
| Level: | Par of $10
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| Call: | At par if index close at or above initial level on any observation date after one year
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| Payout at maturity: | Par plus final coupon unless index finishes below downside threshold, in which case 1% loss for every 1% decline
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| Initial level: | 3,369.78
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| Coupon barrier/downside threshold: | 2,358.85, 70% of initial level
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| Pricing date: | May 20
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| Settlement date: | May 23
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 1.25%
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| Cusip: | 22550F450
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