Credit Suisse plans contingent coupon autocallables linked to indexes

By Angela McDaniels

Tacoma, Wash., April 15 – Credit Suisse AG plans to price contingent coupon autocallable yield notes due April 29, 2025 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a coupon at a rate that is expected to be 10% per year if each index closes at or above its barrier level, 85% of its initial level, on the observation date for that month.

Beginning April 26, 2016, the notes will be automatically redeemed at par plus the contingent coupon if the closing level of each index is greater than or equal to its initial level on any monthly observation date.

If the notes are not called and the final index level of each index is greater than or equal to its knock-in level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% that the lowest-performing index level is less than its initial level.

Incapital LLC is the agent.

The notes are expected to price April 24 and settle April 29.

The Cusip number is 22546VBY1.

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