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Credit Suisse plans market-linked step-up autocallables on Euro Stoxx
By Toni Weeks
San Luis Obispo, Calif., Feb. 3 – Credit Suisse AG plans to price autocallable market-linked step-up notes due February 2018 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 10.5% to 11.5% if the index closes at or above the initial level on any of the annual observation dates.
If the notes are not called and the index finishes above the step-up value, 135% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 35%.
Investors will be fully exposed to losses.
The exact deal terms will be set at pricing.
The notes will price in February and settle in March.
BofA Merrill Lynch is the agent.
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