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Credit Suisse plans market-linked step-up autocallables on Hang Seng China Enterprises
By Susanna Moon
Chicago, Oct. 3 – Credit Suisse AG plans to price autocallable market-linked step-up notes due October 2017 linked to the Hang Seng China Enterprises 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 13% if the index closes at or above the initial level on either of the annual observation dates.
If the notes are not called and the index finishes above the step-up value – 128% to 134% 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 28% to 34%.
Investors will be exposed to any losses.
The exact deal terms will be set at pricing.
BofA Merrill Lynch
The notes will price in October and settle in November.
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