Credit Suisse plans autocallable notes on Hang Seng China, S&P 500

By Toni Weeks

San Luis Obispo, Calif., July 16 – Credit Suisse AG, Nassau Branch plans to price 0% autocallable securities due July 24, 2018 linked to the Hang Seng China Enterprises index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an annualized redemption premium of at least 12.25% per year if each underlying index closes at or above its trigger level on any of three annual observation dates. The trigger level is roughly 100% of the initial level on the first observation date and 90% of the initial level on the second and third observation dates.

A knock-in event occurs if the final level of either underlying index is less than its knock-in level, 65% of its initial level, on the July 19, 2018 final valuation date.

If the notes are not called and a knock-in event has not occurred, the payout at maturity will be par. If a knock-in event does occur, the payout will be par plus the return of the lowest-performing index, with full exposure to any losses.

The exact terms will be set at pricing.

Barclays is the agent.

The note will price July 17 and settle July 24.

The Cusip number is 22546VHG4.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.