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Credit Suisse plans autocallable securities linked to S&P 500, Russell
By Toni Weeks
San Luis Obispo, Calif., Feb. 11 - Credit Suisse AG, Nassau Branch plans to price autocallable securities due Feb. 22, 2016 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 an annualized redemption premium of 8.25% to 9% if the price of each underlying index is at or above its trigger level on any annual review date. The trigger level is expected to be 100% of the initial level.
If the notes are not called, the payout at maturity will be par unless either underlying index closes below 70% of its initial price on the Feb. 12, 2016 final valuation date, in which case investors will be fully exposed to the decline of the least-performing index.
The exact terms will be set at pricing.
The notes (Cusip: 22546TZ38) are expected to price Feb. 14 and settle Feb. 22.
Credit Suisse Securities (USA) LLC will act as agent.
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