Credit Suisse plans to price contingent coupon Bares tied to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Aug. 12 – Credit Suisse AG, London Branch plans to price contingent coupon Buffered Accelerated Return Equity Securities due Aug. 24, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at a rate of 6.75% per year unless the index closes below the 85% barrier level on any day during a quarter, in which case no coupon will be paid that quarter or for any subsequent quarter.

The payout at maturity will be par unless the index closes below the 86.50% to 88.50% knock-in level on any day during the life of the notes, in which investors will lose 1.1299% to 1.1561 for every 1% decline in the index beyond 11.5% to 13.5%.

Credit Suisse Securities (USA) LLC is the underwriter. Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Aug. 19 and settle on Aug. 24.

The Cusip number is 22548QEB7.

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