By Angela McDaniels
Tacoma, Wash., June 3 – Credit Suisse AG, London Branch priced $27.17 million of 0% autocallable market-linked step-up notes due May 24, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus a call premium of 8.8% per year if the index closes at or above the initial index level on either annual observation date.
If the notes are not called and the final index level is greater than the step-up value, 125% of the initial index level, the payout at maturity will be par plus the index return.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, 25%.
If the final index level is less than the initial level, investors will have one-to-one exposure to the decline.
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: | $27,172,380
|
| Maturity: | May 24, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 25%; if final index level is less than initial level, full exposure to decline
|
| Call: | At par plus 8.8% per year if index closes at or above initial index level on May 26, 2017 or May 18, 2018
|
| Initial index level: | 2,090.10
|
| Step-up value: | 2,612.63, 125% of initial level
|
| Pricing date: | May 26
|
| Settlement date: | June 3
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 22547V865
|
© 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.
