Credit Suisse plans 5.2% coupon buffered autocallables on index, fund

By Toni Weeks

San Luis Obispo, Calif., Aug. 18 – Credit Suisse AG plans to price 5.2% autocallable coupon buffered securities due Dec. 4, 2015 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable quarterly. The exact coupon will be set at pricing.

The notes will be called if the closing level of each underlying component is equal to or greater than 100% of its initial level on any quarterly observation date.

If the notes are not called, the payout at maturity will be par unless either component falls below the 15% buffer on the Dec. 1, 2015 valuation date, in which case investors will lose 1.17647% for every 1% decline of the worst-performing component beyond 15%.

The notes (Cusip: 22547QSB3) are expected to price Aug. 29 and settle Sept. 4.

Credit Suisse Securities (USA) LLC is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.