Credit Suisse plans contingent coupon autocallables linked to stocks

By Angela McDaniels

Tacoma, Wash., June 5 – Credit Suisse AG plans to price autocallable contingent coupon yield notes due June 17, 2019 linked to the common stocks of Apple Inc., Starbucks Corp., Philip Morris International Inc. and Cisco Systems, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 12% per year if each stock closes at or above its coupon barrier level, 70% of its initial share price, on the determination date for that quarter.

The notes will be automatically called at par if each stock closes at or above its trigger level, 95% of its initial share price, on any quarterly observation date.

The payout at maturity will be par unless any stock finishes below its knock-in level, 70% of its initial share price, in which case investors will be fully exposed to the decline of the worst-performing stock.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price June 9 and settle June 16.

The Cusip number is 22546VF27.

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