Credit Suisse to price autocallable yield notes linked to four stocks

By Devika Patel

Knoxville, Tenn., June 3 – Credit Suisse AG, London Branch, plans to sell autocallable yield notes due June 28, 2022 linked to the worst performing of the common stocks of Apple Inc., Amazon.com, Inc., Facebook, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly at a rate of 8.5% to 9.5%, with the exact coupon to be set at pricing.

Beginning Sept. 25, 2019, the notes will be called at par plus the coupon 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.

Incapital LLC is the agent.

The notes (Cusip: 22552FGS5) will price on June 25 and settle on June 28.

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