Credit Suisse plans contingent coupon callable yield notes on three stocks

By Sarah Lizee

Olympia, Wash., Oct. 3 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Oct. 10, 2023 linked to the common stocks of Apple Inc., Facebook, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at an annual rate of 12.75% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.

Starting on April 9, 2020, Credit Suisse may redeem the notes at par on any quarterly contingent coupon payment date.

The payout at maturity will be par unless either stock closes below its 50% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Oct. 4.

The Cusip number is 22551N2F2.

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