Credit Suisse plans contingent income autocallables linked to Netflix

By Angela McDaniels

Tacoma, Wash., March 20 – Credit Suisse AG plans to price autocallable contingent income securities due Sept. 28, 2017 linked to the common stock of Netflix Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 12% per year if the stock closes at or above its downside threshold level, 75% of its initial share price, on the observation date for that month.

The notes will be automatically called at par of $10 plus the contingent coupon if the stock closes at or above its initial share price on any monthly observation date.

If the stock finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the stock’s decline from its initial share price.

Credit Suisse Securities (USA) Inc. is the agent. Morgan Stanley Smith Barney LLC is acting as distributor.

The notes will price March 24.

The Cusip number is 22549A547.

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