Published on 7/3/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.36 million trigger autocallable contingent yield notes on indexes
By Kiku Steinfeld
Chicago, July 3 – Credit Suisse AG, London Branch priced $1.36 million of trigger autocallable contingent yield notes due June 3, 2022 linked to the Nikkei 225 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 6.75% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below the 70% downside threshold level, in which case investors will be fully exposed to any losses of the worse performing index.
UBS Financial Services Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Nikkei 225 and Euro Stoxx 50
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| Amount: | $1,359,000
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| Maturity: | June 3, 2022
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| Coupon: | 6.75% per year, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | After six months, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date other than the final one
|
| Payout at maturity: | Par unless index closes below 70% trigger level, in which case full exposure to loss of worse-performing index
|
| Initial levels: | 21,003.37 for Nikkei, 3297.81 for Stoxx
|
| Coupon barrier level: | 1,4702.36 for Nikkei, 2308.47 for Stoxx, 70% of initial levels
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| Downside threshold level: | 1,4702.36 for Nikkei, 2308.47 for Stoxx, 70% of initial levels
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| Pricing date: | May 29
|
| Settlement date: | May 31
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 22550F468
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