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Credit Suisse plans 9.25%-11.25% contingent coupon autocalls on Stoxx
By Susanna Moon
Chicago, Nov. 14 – Credit Suisse AG, London branch plans to price contingent coupon autocallable yield notes due March 5, 2020 linked to the worse performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% to 11.25% if the underlying index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if the index closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the underlying index ever closes below its 70% knock-in level the life of the notes, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Nov. 30.
The Cusip number is 22551LJL5.
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