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 2/28/2017 in the Prospect News Structured Products Daily.

New Issue: Credit Suisse prices $39.89 million market-linked step-up autocallables on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Feb. 28 – Credit Suisse AG, London Branch priced $39.89 million of 0% autocallable market-linked step-up notes due Feb. 28, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium of 7.65% per year if the index closes at or above its initial level on any annual call observation date.

If the index finishes above the step-up level, 121% 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 21%.

Investors will be fully exposed to any index decline.

BofA Merrill Lynch is the underwriter.

Issuer:Credit Suisse AG, London Branch
Issue:Autocallable market-linked step-up notes
Underlying index:S&P 500
Amount:$39,890,450
Maturity:Feb. 28, 2020
Coupon:0%
Price:Par of $10
Call:At par plus an 7.65% annual call premium if the index closes at or above its initial level on any annual call date
Payout at maturity:If the index finishes above the step-up level, par plus the index gain; if index finishes at or below the step-up level but at or above the initial level, par plus 21%; full exposure to losses
Initial level:2,363.81
Step-up level:2,860.21, 121% of initial level
Pricing date:Feb. 23
Settlement date:March 2
Underwriter:BofA Merrill Lynch
Fees:2%
Cusip:22547V451

© 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.