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Credit Suisse plans to price autocallable securities on S&P, Stoxx
By Sarah Lizee
Olympia, Wash., Jan. 13 – Credit Suisse AG, London Branch plans to price 0% autocallable securities due Jan. 31, 2024 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 an annualized redemption premium of 9.5% if each underlying index closes at or above its call level on any annual review date. The call level will be equal to the initial level.
If the notes are not called and each index closes at or above its initial level, the payout at maturity will be par plus the contingent return of 38%.
If either index falls by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Jan. 24.
The Cusip number is 22551NH82.
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