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Credit Suisse plans 20% contingent coupon callable yield notes on Amazon, CVS, Micron
New York, April 25 – Credit Suisse AG, London Branch, plans to price 20% contingent coupon callable yield notes due May 4, 2020 linked to the lowest performing of the common stocks of Amazon.com, Inc., CVS Health Corp. and Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 20% if each stock closes above its coupon barrier level, expected to be 60% of its initial level, on the observation date for that period. The exact coupon will be set at pricing.
Starting Aug. 2, 2018. Credit Suisse may call the notes at par on any coupon payment date.
The payout at maturity will be par unless any stock finishes below its knock-in level, expected to be 60% of its initial level, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
The notes are expected to price on April 27 and settle on May 2.
The Cusip number is 22550WRE9.
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