By Susanna Moon
Chicago, Nov. 4 – Credit Suisse AG, London Branch priced $25.77 million of 0% autocallable market-linked step-up notes due Oct. 26, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 10.4% per year if the index closes at or above the initial level on either annual call date.
If the index finishes above the step-up value – 125% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index finishes at or above the initial level but at or below the step-up value, the payout at maturity will be par of $10 plus the step-up payment of 25%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable market-linked step-up notes
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| Underlying index: | Russell 2000
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| Amount: | $25,766,460
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| Maturity: | Oct. 26, 2018
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index finishes above step-up level, par plus gain; if index gains up to step-up value, par plus 25%; exposure to any losses
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| Call: | At 10.4% if index closes at or above initial level on Nov. 4, 2016 or Oct. 20, 2017
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| Initial level: | 1,165.625
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| Step-up level: | 125% of the initial level
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| Pricing date: | Oct. 29
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| Settlement date: | Nov. 5
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| Underwriters: | BofA Merrill Lynch
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| Fees: | 2%
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| Cusip: | 22548D286
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