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Credit Suisse plans to price contingent coupon callable yield notes on three stocks
By Emma Trincal
New York, Nov. 16 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Nov. 25, 2024 tied to the least performing of the common stocks of Ford Motor Co., General Motors Co. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at the rate of 29% per year if each stock closes at or above its coupon barrier price, 70% of its initial price, on the related observation date.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any monthly observation date after three months.
The payout at maturity will be par unless any stock finishes below its 50% knock-in price, in which case investors will be exposed to the decline of the worst performer from its initial price.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Nov. 19 and settle on Nov. 24.
The Cusip number is 22553P4T3.
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