Credit Suisse plans contingent income autocallables on Goldman Sachs

By Wendy Van Sickle

Columbus, Ohio, Dec. 8 – Credit Suisse AG plans to price autocallable contingent income securities due Dec. 19, 2019 linked to the common stock of Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 8.76% if Goldman Sachs shares close at or above the coupon barrier level, 75% of the initial share price, on the observation date for that quarter.

The notes will be automatically called at par plus the contingent coupon if Goldman Sachs shares close at or above the initial share price on any quarterly observation date other than the final date.

If the final share price is greater than or equal to the 75% knock-in level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the share price decline.

Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Wealth Management handling distribution.

The notes will price Dec. 16.

The Cusip number is 22548T844.

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