By Susanna Moon
Chicago, June 10 – Credit Suisse AG, London Branch priced $3.33 million of trigger phoenix autocallable optimization securities due June 11, 2020 linked to the class P common stock of Kinder Morgan, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if Kinder Morgan stock closes at or above the barrier level, 72.9% of the initial level, on the observation date for that month.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on any monthly observation date after one year.
If the notes are not called and Kinder Morgan shares finish at or above the 72.9% trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be exposed to any losses.
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 stock: | Kinder Morgan, Inc. (Symbol: KMI)
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| Amount: | $3,326,550
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| Maturity: | June 11, 2020
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| Coupon: | 8% per year, payable monthly if stock closes at or above barrier price on observation date for that month
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if stock finishes at or above trigger level; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if shares close at or above initial price on any monthly observation date after one year
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| Initial level: | $40.40
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| Barrier level: | $29.45, 72.9% of initial share price
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| Trade date: | June 5
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| Settlement date: | June 10
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 22548F257
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