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Credit Suisse plans 5.25% autocallable notes linked to index, ETF
By Angela McDaniels
Tacoma, Wash., July 24 – Credit Suisse AG, London Branch plans to price autocallable coupon buffered securities due Jan. 30, 2017 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is expected to be 5.25% per year and will be set at pricing. Interest will be payable semiannually.
The notes will be automatically called at par if each underlying component closes at or above its trigger level on Jan. 26, 2016 or July 26, 2016. The trigger levels are expected to be 100% of the initial levels.
If the notes are not called and the return of the worst-performing underlying component is negative 20% or greater, the payout at maturity will be par. Otherwise, investors will lose 1.25% for every 1% that the worst-performing underlying component declines beyond 20%.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes are expected to price July 27 and settle July 30.
The Cusip number is 22546VHM1.
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