By Angela McDaniels
Tacoma, Wash., Oct. 10 – Credit Suisse AG, London Branch priced $15.43 million of trigger autocallable contingent yield notes due Oct. 9, 2019 linked to the SPDR S&P Regional Banking exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.5% per year if the ETF closes at or above the downside threshold level, 74.8% of the initial share price, on the observation date for that quarter.
Beginning April 6, 2018, the notes will be automatically called at par of $10 if the ETF closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETF: | SPDR S&P Regional Banking ETF
|
| Amount: | $15,434,200
|
| Maturity: | Oct. 9, 2019
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 7.5% per year if ETF closes at or above downside threshold level on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | Beginning April 6, 2018, automatically at par if ETF closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $56.91
|
| Downside threshold: | $42.57, 74.8% of initial share price
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 12
|
| Distributor: | UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 22549D343
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
