Credit Suisse plans contingent coupon autocallables on retail stocks

By Angela McDaniels

Tacoma, Wash., June 24 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due June 30, 2017 linked to the common stocks of Restoration Hardware Holdings, Inc. and Williams-Sonoma, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annualized rate of 20.25% if each stock closes at or above its barrier level, 70% of its initial share price, on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless either stock finishes below its barrier level, in which case investors will receive a number of shares of the lesser-performing stock equal to $1,000 divided by that stock’s initial share price. The issuer has the option to instead pay cash in an amount equal to the value of those shares.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price June 27.

The Cusip number is 22549JAQ3.

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