Credit Suisse plans contingent coupon autocallable yield notes on Amazon

By Sarah Lizee

Olympia, Wash., April 24 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due May 12, 2020 linked to Amazon.com, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.

If Amazon stock closes at or above the coupon barrier level, 77% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 10% per year.

If the closing share price is greater than or equal to the initial share price on Aug. 13, Nov. 8 or Feb. 10, 2020, the notes will be automatically redeemed at par plus the contingent payment.

If the notes are not called, the payout at maturity will be par unless the share price finishes below the 77% knock-in price, in which case investors will lose 1% for each 1% decline of the stock.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

The notes will price on April 25.

The Cusip number is 22552FC34.

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