Credit Suisse eyes contingent market-linked autocalls on VanEck oil

By Sarah Lizee

Olympia, Wash., Nov. 22 – Credit Suisse AG plans to price 0% market-linked securities due Nov. 29, 2022 – autocallable with contingent downside linked to the VanEck Vectors oil services ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of 14% to 16% if the fund closes at or above its initial level on any annual observation date.

At maturity, if the notes have not been called, this means that the final value is below its initial level. In that case, the payout at maturity will be par unless the fund finishes below its 60% threshold price, in which case the payout will be par plus the return of the fund with full exposure to any losses.

Wells Fargo Securities, LLC is the agent.

The notes will price on Nov. 25.

The Cusip number is 22551N6G6.

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