Credit Suisse to price contingent income autocalls on two stocks

By Sarah Lizee

Olympia, Wash., Aug. 15 – Credit Suisse AG, London Branch plans to price autocallable contingent income securities due Nov. 26, 2021 linked to the worst performing of the common stocks of Caterpillar Inc. and 3M Co., according to a 424B2 with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 9% if each stock closes at or above its 60% coupon barrier on the quarterly determination date.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly call review date.

The payout at maturity will be par plus final coupon unless either stock finishes below its 50% downside threshold, in which case investors will be fully exposed to any losses of the worse performing stock.

Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.

The notes will price on Aug. 21.

The Cusip number is 22550K178.

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