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Credit Suisse plans autocallable step-up notes on S&P 500, Russell
By Susanna Moon
Chicago, June 2 - Credit Suisse AG, London Branch plans to price 0% equity-linked autocallable step-up notes due June 30, 2017 tied to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on an annual review date, the notes will be redeemed at par plus a premium of 7.25% to 8% per year.
If the notes are not called, the payout at maturity will be par unless either index finishes below its knock-in level, 70% of the initial level, in which case investors will receive par plus the return of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on June 20 and settle on June 27.
The Cusip number is 22547QN77.
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