Chicago, April 8 – Credit Suisse AG, London Branch priced $636,000 of 0% autocallable securities due March 26, 2025 linked to the lowest performing of the Dow Jones industrial average and the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
Credit Suisse will call the notes at par plus a call premium of 18.67% per year if the closing level of each asset is greater than or equal to its trigger level on any annual call date. The trigger level will be equal to the initial level.
Investors will receive par plus 93.35% if each asset finishes at or above the knock-in level, 60% of its initial level.
Otherwise, investors will lose 1% for each 1% decline of the worst performing asset from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable securities
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Underlying assets: | Dow Jones industrial average and the SPDR S&P 500 ETF trust
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Amount: | $636,000
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Maturity: | March 26, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 93.35% if each asset finishes at or above the knock-in level; otherwise, 1% loss for each 1% decline of the worst performing asset from its initial level
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Call: | Automatically at par plus annualized premium of 18.67% if each asset closes at or above trigger level on any annual call date; trigger level will be equal to 100% of initial level
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Initial levels: | 18591.93 for Dow and $222.95 for ETF
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Knock-in levels: | 11155.158 for Dow and $133.77 for ETF; 60% of initial levels
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Pricing date: | March 23
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Settlement date: | March 26
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 4.1%
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Cusip: | 22551NUP9
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