By Toni Weeks
San Luis Obispo, Calif., March 24 – Credit Suisse AG, London Branch priced $8.55 million of 5% autocallable coupon buffered securities due Sept. 26, 2016 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if the closing level of each index is at or above its initial level on any quarterly observation date.
If the notes are not called and the final level of each index is at least 80% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1.25% for every 1% decline in the least-performing index beyond the 20% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable coupon buffered securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $8,549,000
|
| Maturity: | Sept. 26, 2016
|
| Coupon: | 5%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If final index level of each index is at least 80% of initial level, par; 1.25% loss for every 1% decline in least-performing index beyond 20% buffer
|
| Call: | At par if closing level of each index is at or above its initial level on any quarterly observation date
|
| Initial levels: | 2.089.27 for S&P 500 and 1,254.861 for Russell 2000
|
| Buffer level: | 80% of initial levels
|
| Pricing date: | March 20
|
| Settlement date: | March 25
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.3%
|
| Cusip: | 22546VA89
|
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