Published on 10/25/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $10 million trigger autocallable notes tied to S&P, Russell
By Marisa Wong
Morgantown, W.Va., Oct. 25 – Credit Suisse AG, London Branch priced $10 million of trigger autocallable contingent yield notes due Oct. 29, 2019 linked to the S&P 500 index and the Russell 2000 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 8.25% if each index closes at or above its coupon barrier, 70% of its initial level, on the applicable quarterly observation date.
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.
The payout at maturity will be par plus the final coupon unless either index finishes below the downside threshold level, 70% of the initial level, in which case investors will lose 1% for every 1% loss of the worse performing index.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $10 million
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| Maturity: | Oct. 29, 2019
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| Coupon: | 8.25%, payable quarterly if indexes close at or above coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
|
| Call: | Automatically at par if indexes close at or above initial levels on any quarterly observation date after six months
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| Initial levels: | 1,218.096 for Russell, 2,141.16 for S&P
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| Coupon barriers: | 852.667 for Russell, 1,498.81 for S&P; 70% of initial levels
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| Downside thresholds: | 852.667 for Russell, 1,498.81 for S&P; 70% of initial levels
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| Pricing date: | Oct. 21
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| Settlement date: | Oct. 26
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 22548T430
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