Credit Suisse plans contingent coupon autocallable yield notes on index, ETFs

By Wendy Van Sickle

Columbus, Ohio, Feb. 25 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due March 6, 2023 linked to the least performing of the Euro Stoxx 50 index, the iShares MSCI Emerging Markets ETF and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If each asset closes at or above the coupon barrier level, 70% of its initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 6.75% per year.

The notes will be called at par plus the contingent coupon if each asset closes at or above its initial price on any quarterly observation date after six months.

If the notes are not called, the payout at maturity will be par unless any asset finishes below the 70% knock-in level, in which case investors will lose 1% for each 1% decline of the laggard asset.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on March 2.

The Cusip is 22551NQU3.

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