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Credit Suisse plans market-tied step-up autocallables on Russell 2000
By Susanna Moon
Chicago, Jan. 31 – Credit Suisse AG, London Branch plans to price autocallable market-linked step-up notes due February 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a call premium of 9.5% to 10.5% per year if they are called on either of two call annual call dates. The call dates are in March 2018 and February 2019.
If the index finishes above the step-up value – 130% of the initial level – the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 30%.
Investors will be exposed to any losses.
The exact terms will be set at pricing.
Credit Suisse International and Merrill Lynch & Co. are the agents.
The notes are expected to price in February and settle in March.
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