E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 4/27/2015 in the Prospect News Structured Products Daily.

New Issue: Credit Suisse prices $29.79 million autocallable step-up notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 27 – Credit Suisse AG, London Branch priced $29.79 million of 0% autocallable market-linked step-up notes due April 27, 2018 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 7.85% 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 be fully exposed 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:$29,791,770
Maturity:April 27, 2018
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%; full exposure to any index decline
Call:At par plus 7.85% per year if index closes at or above initial index level on April 29, 2016 or April 21, 2017
Initial level:2,112.93
Step-up value:2,641.16, 125% of initial level
Pricing date:April 23
Settlement date:April 30
Agent:BofA Merrill Lynch
Fees:2%
Cusip:22539W731

© 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.