Credit Suisse plans contingent coupon autocall reverse converts on Wynn

By Sarah Lizee

Olympia, Wash., May 30 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable reverse convertible notes due June 7, 2021 linked to the common stock of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11.35% if the underlying stock closes at or above its 59% coupon barrier on the observation date for that quarter.

The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date after six months.

The payout at maturity will be par unless the underlying stock finishes below 59% of its initial level, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on June 3.

The Cusip number is 22549JM64.

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