Credit Suisse plans contingent coupon autocallables tied to two stocks

By Marisa Wong

Madison, Wis., Aug. 19 – Credit Suisse AG plans to price contingent coupon autocallable yield notes due Aug. 29, 2016 linked to the common stock of E*Trade Financial Corp. and the American Depositary Shares of AstraZeneca plc, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon at the rate of 12.1% per year if each stock closes at or above its barrier price, 70% of its initial price, on the observation date for that quarter.

If the closing share price of each stock is greater than or equal to its initial share price on any quarterly observation date, the notes will be automatically redeemed at par plus the contingent coupon.

If the notes are not called and the final share price of each stock is greater than or equal to its barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for each 1% that the lowest-performing stock’s final share price is less than its initial share price.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Aug. 26 and settle on Aug. 29.

The Cusip number is 22547QSC1.

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