New Issue: Credit Suisse prices $1.58 million 10.5% autocallable yield notes on SPDR S&P Oil & Gas

By Susanna Moon

Chicago, Feb. 26 – Credit Suisse AG, London Branch priced $1.58 million of 10.5% autocallable yield notes due Feb. 29, 2016 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par if the fund closes at or above its initial share price on May 21, 2015, Aug. 24, 2015 or Nov. 23, 2015.

The payout at maturity will be par unless the fund ever closes at or below its knock-in level, 70% of its initial share price, during the life of the notes and finishes below its initial share price, in which case investors will be fully exposed to any losses.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable yield notes
Underlying fund:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$1,581,000
Maturity:	Feb. 29, 2016
Coupon:	10.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless fund ever closes at or below knock-in level and finishes below initial level, in which case full exposure to any losses
Call:	At par if ETF closes at or above initial share price on May 21, 2015, Aug. 24, 2015 or Nov. 23, 2015
Initial level:	$51.75
Knock-in level:	$36.225, 70% of initial level
Pricing date:	Feb. 24
Settlement date:	Feb. 27
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.1%
Cusip:	22546V5F9

© 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.