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Credit Suisse plans contingent coupon autocallable yield notes on two stocks
By Sarah Lizee
Olympia, Wash., April 11 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due April 18, 2022 linked to the least performing of the shares of CVS Health Corp. and Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 8.75% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above 90% of its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless any stock finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on April 12.
The Cusip number is 22552FAT9.
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