Credit Suisse plans contingent coupon autocallables on S&P, Russell

By Marisa Wong

Morgantown, W.Va., Nov. 2 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Feb. 8, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at an annual rate of 7% to 7.5% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.

The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning May 3, 2017.

The payout at maturity will be par unless either index closes below its 70% knock-in level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Nov. 3.

The Cusip number is 22548QMU6.

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