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Credit Suisse plans autocallable securities linked to Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Jan. 6 – Credit Suisse AG, London Branch, plans to price autocallable securities due Jan. 31, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 10.25% if the index closes at or above its initial level on Jan. 26, 2018, Jan. 26, 2019.
If the notes are not called, the payout at maturity will be par plus the contingent maximum return of 30.75% if the index finishes above its initial level; otherwise, investors will receive par unless the index has closed below 75% of its initial level any day during the life of the notes, in which case investors will have full exposure to the index decline.
Credit Suisse Securities (USA) LLC is the agent.
The notes (Cusip: 22548QSH9) are expected to price Jan. 26 and settle Jan. 31.
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