By Wendy Van Sickle
Columbus, Ohio, Feb. 22 – Credit Suisse AG, London Branch priced $730,000 of 0% autocallable securities due Feb. 27, 20223 linked to the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Credit Suisse will call the notes at par of $1,000 plus a call premium of 18.5% per year if the closing level of each asset is greater than or equal to its trigger level on any annual call date after one year.
The trigger level will be equal to 100% of the initial level.
If each asset finishes at or above its initial level, the payout at maturity will be $1,740 per $1,000 of notes.
Investors will receive par plus 10% if the final level of any asset is less than its initial level but each asset finishes at or above the knock-in level, 70% of its initial level.
Otherwise, investors will lose 1% for each 1% decline of the worst performing asset from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Autocallable securities
|
Underlying assets: | S&P 500 index, SPDR S&P Oil & Gas Exploration & Production ETF
|
Amount: | $730,000
|
Maturity: | Feb. 27, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If each asset finishes at or above its initial level, $1,740 per $1,000 of notes; par plus 10% if the final level of any asset is less than its initial level but each asset finishes at or above the knock-in level; otherwise, investors will lose 1% for each 1% decline of the worst performing asset from its initial level
|
Call: | After one year, automatically at par plus annualized premium of 18.5% if each asset closes at or above trigger level on any annual call date; trigger level will be equal to 100% of the initial level
|
Initial levels: | 2,775.6 for S&P and $31.00 for ETF
|
Knock-in levels: | 1,942.92 for S&P and $21.70 for ETF; 70% of initial levels
|
Pricing date: | Feb. 15
|
Settlement date: | Feb. 25
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0%
|
Cusip: | 22551LXC9
|
|
© 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.