Credit Suisse to price trigger autocallable notes linked to Merck

By Angela McDaniels

Tacoma, Wash., July 18 – Credit Suisse AG, London Branch plans to price trigger autocallable contingent yield notes due July 22, 2022 linked to the common stock of Merck & Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 7% per year if Merck shares close at or above the downside threshold level, 70.5% to 75.5% of the initial share price, on the observation date for that quarter. The exact downside threshold will be set at pricing.

After six months, the notes will be automatically called at par of $10 if Merck shares close at or above the initial share price on any quarterly 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. will act as distributor for the notes.

The notes will price July 19.

The Cusip number is 22550F724.

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