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Credit Suisse plans 14.3%-15.3% contingent coupon autocalls on stocks
By Susanna Moon
Chicago, July 12 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Aug. 2, 2021 linked to the least performing of the common stocks of Marathon Oil Corp., Raytheon Co., AT&T Inc. and Twitter, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.3% to 15.3% if each underlying stock closes at or above its 55% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its 90% call level on any review date.
The payout at maturity will be par unless any stock closes below its 55% knock-in level, in which case investors will be fully exposed to any losses of the worst performing stock.
Incapital LLC is the underwriter.
The notes will price on July 26.
The Cusip number is 22550BUQ4.
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