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Credit Suisse plans contingent coupon buffered autocallables linked to S&P 500, oil fund
By Susanna Moon
Chicago, Feb. 6 – Credit Suisse AG plans to price contingent coupon autocallable buffered securities due Feb. 25, 2020 linked to the S&P 500 index and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if each component closes at or above the coupon barrier level, 70% of the initial level, on the observation date for that quarter.
The payout at maturity will be par unless either component finishes below the 70% trigger level, in which case investors will lose 1.42857% for each 1% decline of the worst performing component beyond 30%.
The notes will be called at par plus the contingent coupon if either component closes at or above its initial level on any observation date beginning Feb. 22, 2016.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Feb. 20 and settle on Feb. 25.
The Cusip number is 22546V4P8.
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