Credit Suisse plans trigger phoenix autocallables on Bank of America

By Wendy Van Sickle

Columbus, Ohio, March 24 – Credit Suisse AG, London Branch plans to price trigger phoenix autocallable optimization securities due March 29, 2019 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 8% if the stock closes at or above the coupon barrier level – 61% to 66% of the initial price – on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any quarterly observation date after six months.

The payout at maturity will be par plus the contingent coupon unless the shares finish below the 61% to 66% trigger level, in which case investors will be fully exposed to any losses.

UBS Financial Services Inc. will be the distributor.

The notes will price on March 29 and settle on March 31.

The Cusip number is 22548J820.

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