Credit Suisse plans contingent income autocallables tied to Blackstone

By Angela McDaniels

Tacoma, Wash., July 16 – Credit Suisse AG, London Branch plans to price autocallable contingent income securities due July 21, 2022 linked to the class A common stock of Blackstone Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 9.5% per year if the stock closes at or above the downside threshold level, 75% of the initial share price, on the observation date for that quarter.

The notes will be automatically called at par of $10 plus the contingent coupon if the stock closes at or above its initial share price on any quarterly observation date.

The payout at maturity will be par unless the stock finishes below the downside threshold level, in which case investors will lose 1% for every 1% that the stock declines from its initial share price.

Credit Suisse Securities (USA) Inc. is the agent. Morgan Stanley Smith Barney LLC is acting as distributor.

The notes will price July 17.

The Cusip number is 22550F674.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.