Published on 12/30/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.45 million autocallables tied to S&P, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Dec. 26 - Credit Suisse AG, London Branch priced $4.45 million of 0% autocallable securities due Dec. 27, 2016 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a redemption premium of 13.4% per year if each underlying index closes at or above its trigger level, 100% of its initial level, on any of three annual review dates.
If the notes are not called, the payout at maturity will be par plus the underlying return of the lower-performing index.
If the final level of either index is less than its knock-in level, 75% of its initial level, then each index's underlying return will be equal to its return. Otherwise, each index's return will equal zero.
Barclays is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 and Euro Stoxx 50
|
| Amount: | $4.45 million
|
| Maturity: | Dec. 27, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus underlying return of lower-performing index
|
| Underlying return: | If final level of either index is less than knock-in level, then each index's underlying return will be equal to its return; otherwise, each index's return will equal zero
|
| Call: | Automatically at par plus 13.4% per year if each underlying index closes at or above its initial level on Jan. 5, 2015, Dec. 21, 2015 or Dec. 21, 2016
|
| Initial index levels: | 1,827.99 for S&P 500 and 3,070.91 for Euro Stoxx 50
|
| Knock-in levels: | 1,370.9925 for S&P 500 and 2,303.1825 for Euro Stoxx 50, or 75% of initial levels
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 27
|
| Agent: | Barclays
|
| Fees: | 2.25%
|
| Cusip: | 22547QF50
|
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