Published on 4/29/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.98 million autocallables linked to Russell 2000, Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., April 29 - Credit Suisse AG, London Branch priced $1.98 million of 0% autocallable securities due April 28, 2017 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Barclays is the agent.
The notes will be called at par plus a premium of 12.7% per year if each index closes at or above its trigger level on any review date. The trigger level will be 100% of the initial level on May 4, 2015, 95% of the initial level on April 26, 2016 and 90% of the initial level on April 25, 2017.
If the notes are not called, the payout at maturity will be par unless the final level of either index is less than its knock-in level, 80% of its initial level, in which case investors will be fully exposed to the decline of the lowest-performing index.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $1,982,000
|
| Maturity: | April 28, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless final level of either index is less than knock-in level, in which case full exposure to decline of lowest-performing index
|
| Call: | At par plus premium of 12.7% per year if each index closes at or above trigger level on any review date; trigger level is 100% of initial level on May 4, 2015, 95% of initial level on April 26, 2016 and 90% of initial level on April 25, 2017
|
| Initial index levels: | 1,123.03 for Russell 2000 and 3,147.40 for Euro Stoxx 50
|
| Knock-in levels: | 898.242 for Russell 2000 and 2,517.92 for Euro Stoxx 50, 80% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | Barclays
|
| Fees: | 2.25%
|
| Cusip: | 22547QLP9
|
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