Credit Suisse plans contingent income autocallables linked to Hess

By Wendy Van Sickle

Columbus, Ohio, Oct. 25 – Credit Suisse AG, London Branch plans to price autocallable contingent income securities due May 6, 2020 linked to the common stock of Hess Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at an annualized rate of 13% if the stock closes at or above the downside threshold, 70% of the initial share price, level on the observation date for that month.

The notes will be automatically called at par of $10 if the stock closes at or above its initial share price on any monthly observation date.

The payout at maturity will be par unless the stock finishes below the downside threshold level, in which case investors will lose 1% for every 1% that the stock declines from its initial share price.

Credit Suisse Securities (USA) Inc. is the agent. Morgan Stanley Smith Barney LLC is acting as distributor.

The notes will price Nov. 1.

The Cusip number is 22550K525.

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