Credit Suisse plans contingent coupon buffered autocalls on ETFs

By Sarah Lizee

Olympia, Wash., Nov. 26 – Credit Suisse AG, London Branch plans to price contingent coupon buffered autocallable yield notes due Dec. 5, 2022 linked to the least performing of the United States Oil Fund, LP 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 annualized rate of 6.4% if each asset closes at or above its 75% coupon barrier on the related monthly observation date.

The notes will be called at par if each asset closes at or above 95% of its initial level on any monthly call observation date after one year.

The payout at maturity will be par unless either asset falls by more than 30%, in which case investors will lose 1% for each 1% decline of the worse performing asset beyond the 30% buffer.

Incapital LLC is the placement agent.

The notes will price on Nov. 27.

The Cusip number is 22551NBL9.

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