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Credit Suisse plans contingent coupon autocallables on three indexes
By Sarah Lizee
Olympia, Wash., Oct. 17 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Nov. 5, 2019 linked to the lesser performing of the Euro Stoxx 50 index, 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 coupon at an annualized rate of 8.5% to 10.5% if each index closes at or above its barrier level, 70% of its initial level, on a related observation date.
The notes will be called at par if each index closes above its initial level on Jan. 31, 2019, April 30, 2019 or July 31, 2019.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Nov. 1 and settle on Nov. 5.
The Cusip number is 22551LD23.
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