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

By Susanna Moon

Chicago, Dec. 12 – Credit Suisse AG plans to price autocallable contingent income securities due Dec. 19, 2018 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 8.9% if each index closes at or above its 80% coupon barrier on each trading day during the quarter.

The notes will be called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any observation date beginning March 14, 2017.

The payout at maturity will be par plus the contingent coupon unless either index finishes below its 80% knock-in level, in which case investors will be fully exposed to any losses of the worse performing index.

Credit Suisse Securities (USA) Inc. is the agent with distribution through Morgan Stanley Wealth Management.

The notes will price on Dec. 14 and settle on Dec. 19.

The Cusip number is 22548QPY5.

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