By Marisa Wong
Madison, Wis., April 10 - Credit Suisse AG, London Branch priced $10.34 million of autocallable market-linked step-up notes due April 28, 2017 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 9% if the index closes at or above its initial level on any annual call date.
If the index finishes above the step-up value - 129% of the initial level - the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 29%.
Investors will be fully exposed to any losses.
BofA Merrill Lynch is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable market-linked step-up notes
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Underlying index: | MSCI EAFE
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Amount: | $10,344,970
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Maturity: | April 28, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index finishes above step-up value, par plus index gain; if index finishes at or below step-up level but at or above initial level, par plus 29%; full exposure to losses
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Initial index level: | 1,914.95
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Step-up value: | 2,470.29, 129% of initial level
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Call: | At par plus 9% per year if index closes at or above initial level on any annual call date
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Pricing date: | April 8
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Settlement date: | April 14
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 22545F581
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