Published on 5/27/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $11.4 million buffered return autocallables linked to Euro Stoxx 50
By Susanna Moon
Chicago, May 27 – Credit Suisse AG, London Branch priced $11.4 million of 0% autocallable buffered return equity securities due June 1, 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 plus an annualized 9% call premium if the index finishes at or above its initial level on any call date.
The payout at maturity will be par unless the index finishes below the 85% barrier level, in which case investors will lose 1.1765% for each 1% decline beyond 15%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable buffered return equity securities
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Underlying index: | Euro Stoxx 50
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Amount: | $11.4 million
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Maturity: | June 1, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par if index finishes at or above barrier level; otherwise, 1.1765% loss for each 1% drop beyond 15%
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Call: | At par plus 9% per year if each index finishes at or above its initial level on May 25, 2016, Nov. 24, 2016, May 25, 2017, Nov. 24, 2017 or May 24, 2018
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Initial levels: | 3,679.14
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Barrier level: | 85% of initial level
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Pricing date: | May 22
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Settlement date: | June 1
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.8%
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Cusip: | 22546VE51
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