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Credit Suisse plans 5.5% contingent coupon autocalls tied to S&P 500
By Susanna Moon
Chicago, Feb. 27 – Credit Suisse AG, London branch plans to price contingent coupon autocallable yield notes due March 4, 2020 linked to the S&P 500 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 5.5% if the underlying index closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be called at par if the index closes at or above its initial level on any determination date.
The payout at maturity will be par unless the underlying index closes below its 80% knock-in level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
The notes will price on March 1.
The Cusip number is 22551LYY0.
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