Credit Suisse plans contingent coupon autocallable yield notes on S&P, Nasdaq

By Sarah Lizee

Olympia, Wash., Aug. 6 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Aug. 14, 2020 linked to the lowest performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon at an annualized rate of 8.6% if each index closes at or above its barrier level, 70% of its initial level, on a related observation date.

The notes will be called at par if each index closes above its initial level on any quarterly trigger observation date starting Feb. 11, 2020.

The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 70% knock-in level during the life of the notes, in which case the payout will be par plus the return of the lesser performing index with full exposure to losses.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Aug. 9.

The Cusip number is 22552FSC7.

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