Published on 2/18/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $800,000 autocallable securities on Euro Stoxx 50, iShares MSCI EAFE
By Toni Weeks
San Luis Obispo, Calif., Feb. 18 - Credit Suisse AG, London Branch priced $800,000 of autocallable securities due Feb. 19, 2016 linked to the Euro Stoxx 50 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 13% redemption premium if each underlying component closes at or above its initial level on the Feb. 20, 2015 review date.
If the notes are not called and the return of the least-performing component is zero or positive, the payout at maturity will be par plus 200% of that component's return.
If the return of the least-performing component is negative but that component finishes at or above the 75% knock-in level, the payout will be par. Otherwise, investors will share in the decline of the least-performing component.
Barclays is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying components: | Euro Stoxx 50 and iShares MSCI EAFE ETF
|
| Amount: | $800,000
|
| Maturity: | Feb. 19, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return of least-performing component is zero or positive, par plus 200% of that component's return; if return of least-performing component is negative but that component finishes at or above 75% knock-in level, par; otherwise full exposure to decline of least-performing component
|
| Call: | At par plus 13% per year if each component closes at or above its initial level on Feb. 20, 2015
|
| Initial levels: | 3,097.95 for Euro Stoxx, $66.24 for | iShares MSCI EAFE
|
| Knock-in levels: | 2,323.4625 for Euro Stoxx, $49.68 for iShares MSCI EAFE, 75% of initial levels
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 19
|
| Agent: | Barclays
|
| Fees: | 1.5%
|
| Cusip: | 22547QHX7
|
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