Credit Suisse plans 5.75% contingent income autocalls on S&P, Russell

By Susanna Moon

Chicago, Oct. 12 – Credit Suisse AG, London branch plans to price autocallable contingent income securities due April 30, 2020 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 5.75% if each index closes at or above its 70% coupon barrier on the quarterly determination date.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any call review date after six months.

The payout at maturity will be par plus the coupon unless either index finishes below its 70% downside threshold, 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 are expected to price on Oct. 26.

The Cusip number is 22551LCD0.

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