Credit Suisse to price contingent income autocalls tied to Hess

By Sarah Lizee

Olympia, Wash., April 1 – Credit Suisse AG, London Branch plans to price contingent income autocallable securities due Oct. 10, 2019 linked to Hess Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 15.25% if the stock closes at or above the 75% downside threshold on the determination date for that period.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any determination date.

The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% decline.

Credit Suisse Securities (USA) LLC is the underwriter. Morgan Stanley Smith Barney LLC is distributor.

The notes will price on April 5.

The Cusip number is 22550F120.

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