By Marisa Wong
Madison, Wis., Nov. 5 – Credit Suisse AG, London Branch priced $10.29 million of 0% autocallable market-linked step-up notes due Oct. 27, 2017 tied to the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a premium if the index’s closing level is greater than or equal to the initial level on either observation date. The premium will be $1.30 if the notes are called on Nov. 6, 2015 or $2.60 if called on Oct. 21, 2016.
If the index finishes above the step-up value – 156.25% of the initial value – the payout at maturity will be par plus the index return.
If the index return is zero or positive but the index finishes at or below the step-up value, the payout will be par plus the step-up payment of 56.25%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Hang Seng China Enterprises
|
| Amount: | $10,288,790
|
| Maturity: | Oct. 27, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes above step-up value, par plus index return; if index stays flat or gains but finishes at or below step-up value, par plus 56.25%; exposure to losses
|
| Call: | Automatically at par plus a premium if index closes at or above initial level on either observation date; premium is 13% if notes are called on Nov. 6, 2015 or 26% if called on Oct. 21, 2016
|
| Initial index level: | 10,628.88
|
| Step-up value: | 16,607.63, 156.25% of initial value
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 6
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 22547E111
|
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