Credit Suisse plans 15.6% autocallable yield notes linked to stocks

By Angela McDaniels

Tacoma, Wash., May 8 – Credit Suisse AG, London Branch plans to price 15.6% autocallable yield notes due May 14, 2018 linked to the common stocks of Advanced Micro Devices, Inc., Tesla, Inc. and Twitter, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

Beginning Aug. 9, the notes will be automatically redeemed at par if each stock closes at or above its initial share price on any monthly trigger observation date.

The payout at maturity will be par unless any stock finishes below its knock-in level, 55% of its initial share price, in which case investors will receive a number of shares of the lowest-performing stock equal to $1,000 divided by that stock’s initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price May 9.

The Cusip number is 22549JGQ7.

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