New Issue: Credit Suisse prices $24.78 million autocallable market-linked step-up notes on S&P 500

By Toni Weeks

San Luis Obispo, Calif., Feb. 3 – Credit Suisse AG, London Branch priced $24.78 million of 0% autocallable market-linked step-up notes due Jan. 26, 2018 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus a premium of 9.12% if the index closes at or above the initial level on Feb. 5, 2016 or Jan. 20, 2017.

If the index finishes above the step-up value, 125% of the initial value, the payout at maturity will be par of $10 plus the index return.

If the index finishes at or below the step-up value and equal to or greater than the initial level, the payout at maturity will be par of $10 plus the step-up payment of 25%.

Investors will be exposed to any index decline.

BofA Merrill Lynch is the underwriter.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable market-linked step-up notes
Underlying index:	S&P 500
Amount:	$24,783,170
Maturity:	Jan. 26, 2018
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes above step-up value, par plus index return; if index stays flat or gains but finishes at or below step-up value, par plus 25%; exposure to any losses
Call:	Automatically at par plus call premium of 9.12% per year if index closes at or above initial level on Feb. 5, 2016 or Jan. 20, 2017
Initial index level:	2,021.25
Step-up value:	2,526.56, 125% of initial value
Pricing date:	Jan. 29
Settlement date:	Feb. 5
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	22548D872

© 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.