Credit Suisse to price contingent coupon autocallables on four stocks

By Devika Patel

Knoxville, Tenn., Sept. 24 – Credit Suisse AG, London Branch plans to sell contingent coupon autocallable yield notes due March 29, 2021 linked to the worst performing of the stocks of Amazon.com, Inc., Facebook, Inc., Alphabet Inc. and Netflix, 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 12.5% if each stock closes at or above its coupon barrier level, expected to be about 60% of the initial level, on the observation date for that quarter. The exact coupon barrier level will be set at pricing.

Beginning Dec. 24, 2018, the notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date.

The payout at maturity will be par unless any stock finishes below its knock-in level, expected to be about 60% 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: 22551LBQ2) will price on Sept. 25 and settle on Sept. 28.

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