Credit Suisse to price trigger autocallables linked to Bank of America

By Angela McDaniels

Tacoma, Wash., April 26 – Credit Suisse AG, London Branch plans to price trigger autocallable contingent yield notes due April 30, 2021 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 8% per year if Bank of America shares close at or above the downside threshold level, 67% to 72% of the initial share price, on the observation date for that month. The exact downside threshold level will be set at pricing.

Beginning April 28, 2017, the notes will be automatically called at par of $10 if Bank of America shares close at or above the initial share price on any monthly observation date.

If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

UBS Financial Services Inc. is acting as distributor.

The notes will price April 27.

The Cusip number is 22548R251.

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