Credit Suisse plans 7.6% contingent coupon autocalls on S&P, Stoxx

By Susanna Moon

Chicago, Aug. 13 – Credit Suisse AG, London branch plans to price contingent coupon autocallable yield notes due Feb. 26, 2024 linked to the worse performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.6% if each underlying index closes at or above its 70% coupon barrier on each trading day for that quarter.

The notes are called at par if each index closes at or above its initial level on any determination date other than the final date.

The payout at maturity will be par unless either underlying index closes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the worse performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Aug. 21.

The Cusip number is 22551L3Q1.

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