Credit Suisse plans digital-plus barrier autocallables on two indexes

By Toni Weeks

San Luis Obispo, Calif., Aug. 13 - Credit Suisse AG plans to price 0% autocallable digital-plus barrier notes due Aug. 24, 2015 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 be automatically called at par plus an automatic redemption premium of about $120 per $1,000 principal amount of notes if the closing level of each index on the Aug. 18, 2014 review date is equal to or greater than its trigger level, which will be about 105% of the initial index level.

If the notes are not called and each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the 3% fixed payment and the return of the least-performing index.

If the notes are not called and each index finishes at or above its knock-in level - 75% of the initial index level - the payout will be par. Otherwise, investors will be exposed to the decline in the least-performing index from its initial index level.

The exact terms will be determined at pricing.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22547Q7H3) are expected to price Aug. 16 and settle Aug. 23.

© 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.