Credit Suisse plans 5.6% contingent coupon autocalls on S&P, Russell

By Susanna Moon

Chicago, July 18 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due April 27, 2020 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 pay a contingent quarterly coupon at an annual rate of 5.6% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that quarter.

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

The payout at maturity will be par unless either underlying index finishes below its 70% trigger level, in which case investors will receive par plus the return of the worse performing index with full exposure to any losses.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes will price on July 20.

The Cusip number is 22550BVC4.

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