Credit Suisse plans autocallable contingent income notes on stocks

By Sarah Lizee

Olympia, Wash., Oct. 22 – Credit Suisse AG, London Branch plans to price autocallable contingent income securities due Oct. 28, 2021 linked to the common stocks of Apple Inc., Amazon.com, 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 8.85% if each stock closes at or above its 50% coupon barrier on the related observation date.

The notes will be called at par of $10 plus the contingent coupon if each stock closes at or above its initial share price on any observation date.

The payout at maturity will be par plus the contingent coupon unless either stock finishes below its 50% downside threshold, in which case investors will be fully exposed to any losses of the laggard stock.

Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Wealth Management is handling distribution.

The notes will price on Oct. 24 and settle on Oct. 29.

The Cusip number is 22549R664.

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