Published on 11/30/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $750,000 autocallables linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Nov. 30 – Credit Suisse AG, London Branch priced $750,000 of 0% autocallable securities due Nov. 30, 2017 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 a premium of 9% per year if each index closes at or above its initial level on May 25, 2016, Nov. 25, 2016, May 27, 2017 or Nov. 27, 2017.
If the notes are not called, the payout at maturity will be par plus 9% unless either index closes at or below its knock-in level, 75% of its initial level, on any day during the life of the notes, in which case the payout will be par plus the return of the lesser-performing index, subject to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $750,000
|
| Maturity: | Nov. 30, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 9% unless either index closes at or below knock-in level during life of notes, in which case par plus return of lesser-performing index, subject to maximum payout of par
|
| Call: | Automatically at par plus 9% per year if each index closes at or above initial level on May 25, 2016, Nov. 25, 2016, May 27, 2017 or Nov. 27, 2017
|
| Initial index levels: | 1,188.814 for Russell 2000 and 2,089.14 for S&P 500
|
| Knock-in level: | 891.6105 for Russell 2000 and 1,566.855 for S&P 500; 75% of initial levels
|
| Pricing date: | Nov. 24
|
| Settlement date: | Nov. 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.925%
|
| Cusip: | 22546VP75
|
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