By Wendy Van Sickle
Columbus, Ohio, May 18 – Credit Suisse AG, London Branch priced $5 million of 0% trigger gears due May 18, 2020 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par of $10 plus the upside gearing of 1.355 times.
Investors will receive par if the fund declines by 25% or less and be fully exposed to the fund’s decline from its initial level if it declines by more than 25%.
UBS Financial Services Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger gears
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| Underlying ETF: | iShares MSCI Emerging Markets
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| Amount: | $5 million
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| Maturity: | May 18, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 1.355 times any fund gain; par if fund declines by 25% or less; full exposure to loss if fund falls beyond 25%
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| Initial price: | $32.28
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| Downside threshold: | $24.21, 75% of initial price
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| Pricing date: | May 13
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| Settlement date: | May 18
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| Agent: | UBS Financial Services Inc.
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| Fees: | 3%
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| Cusip: | 22548R384
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