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Credit Suisse eyes contingent coupon autocallable yield notes on stocks
By Sarah Lizee
Olympia, Wash., Sept. 23 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Sept. 30, 2022 linked to the least performing of the shares of Delta Air Lines, Inc., Home Depot, Inc., Intel Corp. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 9.4% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be called at par if each stock closes at or above 95% of its initial level on any quarterly trigger observation date beginning Dec. 24.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.
Incapital LLC is the agent.
The notes will price on Sept. 25.
The Cusip number is 22552FWJ7.
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