Credit Suisse plans buffered contingent coupon autocallable yield notes on ServiceNow

By Sarah Lizee

Olympia, Wash., Nov. 6 – Credit Suisse AG, London Branch plans to price buffered contingent coupon autocallable yield notes due Nov. 25, 2020 linked to the common stock of ServiceNow, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the stock closes at or above the buffer level, 72% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at the rate of 10% per year for that quarter and all prior unpaid contingent coupons, if any.

The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless the stock finishes below the buffer level, in which case investors will lose 1.38889% for every 1% that Boeing stock declines beyond 28%.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

The notes will price on Nov. 8.

The Cusip number is 22551NA30.

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