Credit Suisse plans contingent coupon autocallables on three stocks

By Devika Patel

Knoxville, Tenn., Jan. 8 – Credit Suisse AG, London Branch, plans to price contingent coupon autocallable yield notes due Jan. 21, 2020 linked to the worst performing of the common stocks of JPMorgan Chase & Co., Nvidia Corp. and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an expected annual rate of 8% if each stock closes at or above its coupon barrier level, expected to be about 50% of the initial level, on the observation date for that quarter. The exact coupon rate and barrier level will be set at pricing.

The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date from April 12, 2018 through Oct. 14, 2019.

The payout at maturity will be par unless any stock finishes below its knock-in level, expected to be about 50% of the initial level, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level. The exact knock-in level will be set at pricing.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22550W5M5) will price on Jan. 11 and settle on Jan. 19.

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