Credit Suisse plans contingent coupon autocallable yield notes on Amazon

By Sarah Lizee

Olympia, Wash., May 23 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Sept. 3, 2020 linked to Amazon.com, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.

If the stock closes at or above the coupon barrier level, 72.5% of the initial share price, on a monthly observation date, the notes will pay a contingent payment for that month at a rate of 8.15% per year.

If the closing share price is greater than or equal to the initial share price on Nov. 27, 2019, Feb. 27, 2020 or May 29, 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 ever closes below its 70% knock-in price during the life of the notes, in which case investors will receive par plus the return of the stock with full exposure to the decline, subject to a maximum payout of par.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on May 29.

The Cusip number is 22552FFU1.

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