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Credit Suisse plans contingent coupon autocallables tied to Euro Stoxx
By Devika Patel
Knoxville, Tenn., April 6 – Credit Suisse AG, London branch, plans to price contingent coupon autocallable yield notes due April 13, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.3% if the index closes above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless the index finishes below its 75% knock-in level, in which case investors will be fully exposed to any losses.
The notes will be callable at par if the index closes above its initial level on any interest payment date after Oct. 10, 2016.
Credit Suisse Securities (USA) LLC is the agent.
The notes (Cusip: 22548Q3H6) are expected to price April 8 and settle April 13.
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