Credit Suisse plans 8.5%-9.5% contingent coupon autocalls on stocks

By Susanna Moon

Chicago, Aug. 23 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Aug. 31, 2021 linked to the least performing of the common stocks of Apple Inc. and Facebook, 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 8.5% to 9.5% if each underlying stock closes at or above its 65% 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 closes below its 65% knock-in level, in which case investors will be fully exposed to any losses of the worst performing stock.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes will price on Aug. 29.

The Cusip number is 22551L4U1.

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