Credit Suisse plans contingent coupon autocallable yield notes on stocks

By Sarah Lizee

Olympia, Wash., Dec. 16 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Dec. 30, 2022 linked to the lowest performing of the stocks of AbbVie Inc., Amgen Inc. and Bristol-Myers Squibb Co., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annualized rate of 12.5% if each stock closes at or above its barrier level, 60% of its initial level, on a related observation date.

After six months, the notes will be called at par plus the coupon if each stock closes at or above its initial level on any quarterly observation date other than the final one.

The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case the payout will be par plus the return of the least performing stock with full exposure to losses.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Dec. 20.

The Cusip number is 22551NEJ1.

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