Product snapshot: CS responds to demand for memory autocallables in Germany

Credit Suisse issuance year to date in Germany/Austria has been focused on memory autocallables with a step down feature, which is related to the knock out level decreasing from year to year. The products have been offered alongside memory autocallable step down certificates with the airbag payoff type as an added feature. These structures which are now marketed on a big scale provide "a bigger chance for an early redemption as the equity markets have risen during this year", according to Bodo