Credit Suisse plans contingent coupon autocallable yield notes on Netflix

By Sarah Lizee

Olympia, Wash., Feb. 19 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due June 1, 2020 linked to the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each month the notes will pay a contingent coupon at an annual rate of 15% if the stock closes at or above the coupon barrier, 60% of the initial level, for that month.

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

The payout at maturity will be par unless the shares close below the 60% knock-in level on any day during the life of the notes, in which case investors will lose 1% for each 1% decline in the stock from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Feb. 26.

The Cusip number is 22551LXR6.

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