Published on 8/26/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.17 million autocallable notes on S&P, Russell
By Marisa Wong
Madison, Wis., Aug. 26 – Credit Suisse AG, London Branch priced $2.17 million of autocallable securities due Aug. 25, 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 10% if each underlying index closes at or above its initial level on Aug. 28, 2015.
If the notes are not called, the payout at maturity will be par plus the underlying return of the lower-performing index.
If an index finishes at or above its initial level, its underlying return will equal 185% times the index return.
If an index finishes below its initial level but at or above the 80% knock-in level, the underlying return will equal zero. Otherwise, the underlying return will equal the index return.
Citigroup Global Markets Inc. is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $2,168,000
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| Maturity: | Aug. 25, 2016
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus underlying return of lower-performing index
|
| Underlying return: | If an index finishes at or above its initial level, 185% times index return; if an index finishes below its initial level but at or above knock-in level, zero; otherwise, equal to index return
|
| Call: | At par plus 10% if indexes close at or above initial level on Aug. 28, 2015
|
| Initial levels: | 1,988.40 for S&P 500, 1,160.34 for Russell 2000
|
| Knock-in levels: | 1,590.720 for S&P 500, 928.272 for Russell 2000, 80% of initial levels
|
| Pricing date: | Aug. 22
|
| Settlement date: | Aug. 27
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 22547QSF4
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