By Susanna Moon
Chicago, July 17 – Credit Suisse AG, London Branch priced $11.02 million of autocallable market-linked step-up notes due July 28, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 7% if the index closes at or above its initial level on any call quarterly date.
If the index finishes above the step-up value – 122.6% 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 22.6%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $11,024,140
|
| Maturity: | July 28, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes above step-up value, par plus index gain; if index finishes at or below step-up level but at or above initial level, par plus 22.6%; otherwise, exposure to any losses
|
| Initial index level: | 1,973.28
|
| Step-up value: | 2,419.24, 122.6% of initial level
|
| Call: | At par plus 7% annualized if index closes at or above initial level on any quarterly call date
|
| Pricing date: | July 15
|
| Settlement date: | July 18
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 22545F342
|
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