By Toni Weeks
San Luis Obispo, Calif., Sept. 3 – Credit Suisse AG, London Branch priced $58.52 million of 0% autocallable market-linked step-up notes due Aug. 25, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 10% if the index closes at or above the initial level on either of two annual observation dates.
If the notes are not called and the index finishes above the step-up value – 149.5% 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 49.5%.
Investors will be fully exposed to any losses.
BofA Merrill Lynch is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Autocallable market-linked step-up notes
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Underlying index: | Euro Stoxx 50
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Amount: | $58,515,640
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Maturity: | Aug. 25, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes above step-up value, par plus index return; if index finishes at or below step-up value but at or above initial level, par plus 49.5%; full exposure to any index decline
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Call: | At par plus 10% per year if index closes at or above initial level on Aug. 28, 2015 or Aug. 19, 2016
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Initial level: | 3,164.44
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Step-up value: | 4,730.84, 149.5% of initial level
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Pricing date: | Aug. 28
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Settlement date: | Sept. 5
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 22545F284
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