Credit Suisse plans high/low coupon autocallables tied to S&P, oil ETF

By Angela McDaniels

Tacoma, Wash., Feb. 27 – Credit Suisse AG, London Branch plans to price high/low coupon autocallable yield notes due Dec. 3, 2018 linked to the S&P 500 index and 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 quarterly. The interest rate will be 7.25% per year if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter. Otherwise, the interest rate for that quarter will be 1% per year.

The notes will be automatically called at par plus accrued interest if each underlier closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless either underlier finishes below its knock-in level, 60% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price Feb. 28.

The Cusip number is 22548QWH4.

© 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.