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Credit Suisse plans 7% autocallables linked to Euro Stoxx 50, Russell
By Angela McDaniels
Tacoma, Wash., June 3 – Credit Suisse AG plans to price 7% autocallable yield notes due Dec. 12, 2016 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called at par if each index closes at or above its trigger level on June 7, 2016, Sept. 7, 2016 or Dec. 7, 2016. The trigger level is expected to be 100% of the initial level.
If either index closes below its knock-in level, 70% of its initial level, on any day during the life of the notes, the payout at maturity will be par plus the return of the worst-performing index, subject to a maximum payout of par. Otherwise, the payout will be par.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price June 5 and settle June 10.
The Cusip number is 22546VEW2.
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