Credit Suisse to price autocallables linked to S&P 500, oil & gas ETF

By Angela McDaniels

Tacoma, Wash., Feb. 7 – Credit Suisse AG, London Branch plans to price 0% autocallable securities due Feb. 27, 2023 linked to the lesser performing of the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a premium if each underlier closes at or above its initial level on Feb. 18, 2020, Feb. 18, 2021 or Feb. 17, 2022. The premium is expected to be 18.5% per year.

If each underlier finishes at or above its initial level, the payout at maturity will be par plus the contingent maximum return, which is expected to be 74%.

If either underlier finishes below its initial level but each underlier finishes at or above its knock-in level, 70% of its initial level, the payout will be par plus the contingent minimum return, which is expected to be 10%.

If either underlier finishes below its knock-in level, investors will be exposed to the decline of the lesser-performing underlier.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price Feb. 15.

The Cusip number is 22551LXC9.

© 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.