Credit Suisse plans market-linked step-up autocallables on oil index

By Marisa Wong

Madison, Wis., July 6 – Credit Suisse AG plans to price 0% autocallable market-linked step-up notes due July 2017 linked to the S&P Oil & Gas Exploration & Production Select Industry index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus a call premium of 13% to 15% if the index closes at or above the initial level on the observation date in August 2016.

If the notes are not called and the index finishes above the step-up value, 125% of the initial level, the payout at maturity will be par plus the index gain.

If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 25%.

Investors will be fully exposed to any index decline.

The exact deal terms will be set at pricing.

The notes will price in July and settle in August.

BofA Merrill Lynch is the underwriter.

© 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.