Credit Suisse plans contingent coupon autocallable yield notes on Apple

By Sarah Lizee

Olympia, Wash., Aug. 27 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Sept. 16, 2020 linked to Apple 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, 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 10% per year.

If the closing share price is greater than or equal to the initial share price on Dec. 12, 2019, March 12, 2020 or June 11, 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 placement agents.

The notes will price on Aug. 30.

The Cusip number is 22552FUM2.

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