Credit Suisse to price contingent coupon autocallables tied to stocks

By Angela McDaniels

Tacoma, Wash., Oct. 18 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due April 29, 2022 linked to the lowest performing of the class A common stock of Workday, Inc., the common stock of Microsoft Corp. and the common stock of salesforce.com, inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 13% per year if each stock closes at or above its knock-in level, 70% of its initial share price, on the observation date for that quarter.

The notes will be automatically called at par if each stock closes at or above its trigger level, 90% of its initial share price, on any quarterly observation date.

The payout at maturity will be par unless any stock finishes below its knock-in level, in which case investors will lose 1% for every 1% that the least-performing stock declines form its initial share price.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price Oct. 28.

The Cusip number is 22551N3Y0.

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