Credit Suisse plans contingent coupon autocallables linked to indexes

By Angela McDaniels

Tacoma, Wash., April 11 – Credit Suisse AG, London Branch plans to price autocallable market-linked securities with contingent coupon and contingent downside due April 27, 2023 linked to worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if the worst-performing underlier closes at or above its threshold level, 70% of its initial level, on the calculation day for that quarter. The contingent coupon rate is expected to be 7% to 8% per year and will be set at pricing.

The notes will be automatically called at par if the worst-performing underlier closes at or above its initial level on any quarterly calculation date from October 2019 to January 2023, inclusive.

If the final level of the worst-performing underlier is greater than or equal to its threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level of the worst-performing underlier is less than its initial level.

Wells Fargo Securities LLC is the agent.

The notes will price April 29.

The Cusip number is 22552F6W7.

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