Credit Suisse plans contingent coupon autocallable yield notes on Pioneer Natural

By Tali Rackner

Minneapolis, Aug. 10 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Aug. 29, 2018 linked to the common stock of Pioneer Natural Resources Co., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter the notes will pay a contingent coupon at an annual rate of 15.5% if the stock closes at or above its coupon barrier, 80% of the initial level.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any trigger observation date.

The payout at maturity will be par unless the stock finishes below its knock-in level, 80% of its initial share price, in which case investors will lose 1% for each 1% decline in the stock from its initial level.

JPMorgan is the agent.

The notes will price on Aug. 11 and settle on Aug. 16.

The Cusip number is 22550BFC2.

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