Credit Suisse to price contingent income autocallables on Aflac

By Sarah Lizee

Olympia, Wash., May 28 – Credit Suisse AG, London Branch plans to price autocallable contingent income securities due June 2, 2023 linked to the common shares of Aflac Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at the rate of 12.65% per year if the stock closes at or above its downside threshold level, 55% of its initial share price, on the observation date that quarter.

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

If the stock finishes at or above the downside threshold level, the payout at maturity will be par. Otherwise, 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 on May 29.

The Cusip number is 22550V661.

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