Credit Suisse plans contingent income autocallables on Euro Stoxx, S&P

By Angela McDaniels

Tacoma, Wash., Dec. 16 – Credit Suisse AG plans to price autocallable contingent income securities due Dec. 27, 2017 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 9.35% per year if each index closes at or above its knock-in level, 80% of its initial index level, on every trading day during the quarter.

The notes will be automatically called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date.

If each index finishes at or above its knock-in level, the payout at maturity will be par plus the final contingent coupon, if any. If the final level of either index is less than its downside threshold level, investors will be fully exposed to the decline of the lesser-performing index.

Credit Suisse Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.

The notes will price Dec. 20.

The Cusip number is 22549A133.

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