Credit Suisse eyes contingent coupon autocallable yield notes on S&P, Nasdaq

By Sarah Lizee

Olympia, Wash., Jan. 9 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due July 15, 2021 linked to the least performing of the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Every quarter, the notes pay a contingent coupon at the rate of 5.25% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.

Starting July 10, the notes will be called at par if each index closes at or above its initial level on any observation date.

The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its knock-in level, 70% of its initial level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Jan. 10.

The Cusip number is 22551NFP6.

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