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Credit Suisse plans contingent coupon autocallable yield notes on Kroger
By Sarah Lizee
Olympia, Wash., May 9 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due May 28, 2020 linked to Kroger Co. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Kroger stock closes at or above the coupon barrier level, 70% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 12.4% per year.
If the closing share price is greater than or equal to the initial share price on Aug. 26, 2019, Nov. 26, 2019 or Feb. 26, 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 stock finishes below its 70% knock-in price, in which case investors will receive par plus the return of the stock with full exposure to the decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
The notes will price on May 10.
The Cusip number is 22552FF80.
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