Credit Suisse plans contingent coupon autocallable yield notes on stocks

By Sarah Lizee

Olympia, Wash., Aug. 5 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Aug. 14, 2025 linked to the least performing of the shares of Abiomed, Inc., Morgan Stanley and Nektar Therapeutics, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly contingent coupon at an annual rate of 20.75% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.

The notes will be called at par if each stock closes at or above its initial level on any monthly trigger observation date beginning Nov. 11.

The payout at maturity will be par unless any stock finishes below its 50% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Aug. 9.

The Cusip number is 22552FRQ7.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.