Credit Suisse to price contingent coupon notes on banking, oil ETFs

By Marisa Wong

Morgantown, W.Va., March 7 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Sept. 13, 2019 linked to the SPDR S&P Regional Banking exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.2% if each underlying asset closes at or above its 75% coupon barrier on the related quarterly observation date.

The notes will be called at par if each underlying asset closes at or above its initial price on any quarterly valuation date prior to maturity.

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

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on March 8.

The Cusip number is 22550WJ65.

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