Credit Suisse to price airbag autocallables linked to Western Digital

By Angela McDaniels

Tacoma, Wash., Aug. 23 – Credit Suisse AG, London Branch plans to price airbag autocallable yield notes due Sept. 5, 2018 linked to the common stock of Western Digital Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is expected to be 9.35% to 10.35% per year and will be set at pricing. Interest will be payable monthly.

The notes will be called automatically at par if Western Digital shares close at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Western Digital shares equal to $1,000 divided by the conversion price, 90% of the initial share price.

UBS Financial Services Inc. is acting as distributor.

The notes are expected to price Aug. 29.

The Cusip number is 22549C865.

© 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.