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

By Angela McDaniels

Tacoma, Wash., June 26 – Credit Suisse AG plans to price 0% autocallable securities due July 31, 2019 linked to 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 underlying component closes at or above its initial level on any annual observation date. The premium is expected to be 14% to 16% per year and will be set at pricing.

If the notes are not called, the payout at maturity will be par plus 10% unless either underlying component finishes at or below its knock-in level, 70% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing underlying component.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes will price July 24 and settle July 31.

The Cusip number is 22546VG67.

© 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.