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Credit Suisse plans 9.3% contingent coupon autocalls on biotech fund
By Susanna Moon
Chicago, Aug. 20 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Nov. 29, 2019 linked to the SPDR S&P Biotech 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 9.3% if the underlying fund closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial level on any review date.
The payout at maturity will be par unless the fund closes below its 70% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price on Aug. 24.
The Cusip number is 22551L4C1.
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