Credit Suisse plans 15% contingent coupon autocalls tied to tech stocks

By Susanna Moon

Chicago, March 22 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Sept. 29, 2020 linked to the least performing of the class A common stock of Facebook, Inc., the common stocks of Amazon.com, Inc. and Netflix, Inc. and the class C common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 15% if each stock closes at or above its 60% coupon barrier on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any review date.

The payout at maturity will be par unless any stock ever closes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worse performing stock.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes will price on March 26.

The Cusip number is 22550WK97.

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