Credit Suisse plans market-linked autocallable notes tied to indexes

By Devika Patel

Knoxville, Tenn., July 5 – Credit Suisse AG will price market-linked securities due July 25, 2022 – autocallable with contingent coupon and contingent downside linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7% to 8% if each index closes at or above its threshold level, 70% of its initial level, on the observation date for that quarter.

The notes will be called at par plus the coupon if each index closes at or above the initial level on any quarterly observation date from Jan. 20, 2019 to April 20, 2022, inclusive.

The payout at maturity will be par plus the coupon unless any index finishes below its 70% threshold level, in which case investors will have one-to-one exposure to any losses of the worst-performing index.

Wells Fargo Securities LLC is the agent.

The notes (Cusip: 22550WZJ9) will price on July 19 and settle on July 24.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.