Credit Suisse plans 10.75% contingent coupon autocalls on two stocks

By Susanna Moon

Chicago, July 18 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due July 25, 2019 linked to the lesser performing of the class A common stocks of Facebook, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10.75% if each underlying stock closes at or above its 75% coupon barrier on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any review date.

The payout at maturity will be par unless either stock closes below its 75% knock-in level, in which case investors will be fully exposed to any losses of the worse performing stock.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes will price on July 20.

The Cusip number is 22549JVJ6.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.