Credit Suisse plans 7%-9% five-year autocalls tied to S&P, Russell

By Susanna Moon

Chicago, Sept. 7 – Credit Suisse AG, London Branch plans to price 7% to 9% autocallable notes due Jan. 3, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly, with the exact rate to be set at pricing.

The notes will be called at par if each index closes at or above its initial level on any call observation date after six months.

The payout at maturity will be par unless either index ever closes below its 75% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Sept. 28.

The Cusip number is 22551LA26.

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