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Credit Suisse plans contingent coupon autocalls on Nasdaq, two ETFs
New York, June 11 – Credit Suisse AG, London Branch plans to price 8% contingent coupon autocallable yield notes due June 15, 2020 linked to the least performing of the Nasdaq-100 index, the SPDR S&P Biotech ETF and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each underlying closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be automatically called at par if each underlying closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless any of the underlyings closes below its 60% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing underlying from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on June 12 and settle on June 15.
The Cusip number is 22550WXJ1.
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