Credit Suisse plans contingent coupon autocallable notes on Facebook

By Marisa Wong

Morgantown, W.Va., March 23 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due March 30, 2018 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at a rate of 9% per year if Facebook stock closes at or above its barrier level, 85% of the initial price, on the observation date for that month.

The payout at maturity will be par unless the stock finishes at or below its knock-in level, expected to be about 85% of the initial price, in which case investors will be fully exposed to the decline.

The notes will be automatically called at par if the stock closes at or above its initial level on any observation date beginning June 27.

Credit Suisse Securities (USA) LLC is the agent.

The notes are expected to price on March 28 and settle on March 31.

The Cusip number is 22546VZL3.

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