Credit Suisse eyes contingent coupon autocallable yield notes on indexes

By Sarah Lizee

Olympia, Wash., July 20 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Jan. 31, 2022 linked to the least performing of the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a quarterly coupon at the rate of 8.65% per year if each index closes above its coupon barrier, 50% of its initial level, on the observation date for that quarter.

The notes will be called at par plus the coupon if each index closes above its initial level on any quarterly trigger observation date.

The payout at maturity will be par unless either index closes below its 50% knock-in level on any day during the life of the notes, in which case investors will be exposed to the decline of the least-performing index from its initial level.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes will price on July 24.

The Cusip number is 22552WCE3.

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