Credit Suisse to price contingent income autocalls on two stocks

By Sarah Lizee

Olympia, Wash., June 11 – Credit Suisse AG, London Branch plans to price autocallable contingent income securities due Sept. 17, 2021 linked to the worst performing of the common stocks of Alphabet Inc. and AT&T Inc., according to a 424B2 with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 9.25% if each stock closes at or above its 70% coupon barrier on the quarterly determination date.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly call review date after Sept. 16.

The payout at maturity will be par plus final coupon unless either stock finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses of the worse performing stock.

Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.

The notes will price on June 14.

The Cusip number is 22550F575.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.