Credit Suisse plans 13.5% contingent coupon autocalls on two funds

By Susanna Moon

Chicago, Jan. 10 – Credit Suisse AG, London branch plans to price contingent coupon autocallable yield notes due July 20, 2026 linked to the worse performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of 13.5% if each underlying asset closes at or above its 80% coupon barrier on each trading day for that month.

The notes are called at par if each fund closes at or above its initial level on any determination date after one year.

The payout at maturity will be par unless either underlying fund closes below its 80% buffer level, in which case investors will be exposed to any losses of the worse performing fund beyond 20%.

Incapital LLC is the placement agent.

The notes will price on Jan. 15.

The Cusip number is 22551LTB6.

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