Credit Suisse plans contingent coupon autocallables on three stocks

By Devika Patel

Knoxville, Tenn., June 23 – Credit Suisse AG, London Branch, plans to price contingent coupon autocallable yield notes due June 30, 2020 linked to the worst performing of the common stocks of Apple Inc., Visa Inc. and Marathon Oil Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly contingent coupon at an expected annual rate of 10% to 11% if each stock closes at or above its coupon barrier level, expected to be about 50% of the initial level, on the observation date for that month. The exact coupon rate and barrier level will be set at pricing.

Beginning Sept. 26, 2017, the notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date.

The payout at maturity will be par unless any stock finishes below its knock-in level, expected to be about 50% of the initial level, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level. The knock-in level will be set at pricing.

Incapital LLC is the agent.

The notes (Cusip: 22550BA29) will price on June 27 and settle on June 30.

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