Credit Suisse plans contingent coupon autocallables tied to FireEye

By Jennifer Chiou

New York, Oct. 22 – Credit Suisse AG plans to price contingent coupon autocallable yield notes due Oct. 30, 2017 linked to the shares of FireEye, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon at a rate that is expected to be 15.6% per year if FireEye shares close at or above the coupon barrier price on the observation date for that quarter. The coupon barrier price is expected to be about 60% of the initial share price.

The notes will be automatically called at par if the shares close at or above the trigger price, which is expected to be equal to the initial share price, on any quarterly observation date.

If the notes are not called and the final share price is greater than or equal to the knock-in price, which is expected to be 60% of the initial share price, the payout will be par. Otherwise, investors will be fully exposed to the shares’ decline.

The exact terms will be set at pricing.

The notes (Cusip: 22547QVB9) will price on Oct. 24 and settle on Oct. 29.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

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