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Credit Suisse plans market-linked step-up autocallables on Stoxx 50
By Susanna Moon
Chicago, Oct. 12 – Credit Suisse AG, London Branch plans to price autocallable market-linked step-up notes due October 2020 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 12% to 13% if the index closes at or above the initial level on either annual observation date. The exact call premium will be set at pricing.
If the notes are not called and the index finishes above the step-up value, 130% of the initial level, the payout at maturity will be par plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up return of 30%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price and settle in October.
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