Credit Suisse plans autocallable return enhanced notes linked to GM

By Jennifer Chiou

New York, March 19 - Credit Suisse AG plans to price 0% autocallable return enhanced notes due April 8, 2015 linked to the common stock of General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium if GM stock closes at or above the trigger level, expected to be 108.85% of the initial share price, on July 3, Oct. 2, 2014 or Jan. 2, 2015. The call premium is expected to be $177 per $1,000 principal amount of notes and will be set at pricing.

If the final share price is greater than the initial share price, the payout at maturity will be par plus double the index return, subject to a maximum return that is expected to be 17.7%. Otherwise, investors will be fully exposed to the decline in the index.

The notes (Cusip: 22547QKX3) are expected to price on March 21 and settle on March 26.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

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