Credit Suisse plans contingent coupon autocallables linked to indexes

By Angela McDaniels

Tacoma, Wash., Nov. 25 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Dec. 3, 2025 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon if each index closes at or above its barrier level, 62% to 65% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 8% per year. The exact terms will be set at pricing.

Beginning Nov. 28, 2018, the notes will be automatically redeemed at par plus the contingent coupon if the closing level of each index is greater than or equal to its initial level on any quarterly observation date.

If the notes are not called and the final index level of each index is greater than or equal to its knock-in level, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% that the lowest-performing index’s final level is less than its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price Nov. 30.

The Cusip number is 22546VRB4.

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