Credit Suisse plans contingent coupon autocallables on three stocks

By Marisa Wong

Morgantown, W.Va., Sept. 26 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Sept. 29, 2017 linked to the worst performing of the common stock of Salesforce.com, Inc., VMware, Inc. and Palo Alto Networks, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at an expected annual rate of 14.5% if each stock closes at or above its coupon barrier level, expected to be 70% of the initial price, on the observation date for that month. The exact coupon rate and barrier level will be set at pricing.

The notes will be called at par if each stock closes at or above its initial price on any monthly observation date beginning in December.

The payout at maturity will be par unless any stock finishes below its 70% knock-in level, in which case investors will receive a number of shares of the worst performing stock equal to $1,000 divided by the initial price of that stock.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Sept. 27.

The Cusip number is 22549JCG3.

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