Credit Suisse plans autocallable securities on S&P 500, Euro Stoxx 50

By Devika Patel

Knoxville, Tenn., Jan. 2 – Credit Suisse AG, London Branch, plans to price autocallable securities due Jan. 26, 2022 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an annualized redemption premium of 9.25% to 10.25% per year if the closing price of each underlying index is at or above its initial level on Jan. 18, 2019, Jan. 17, 2020 or Jan. 19, 2021. The exact annualized redemption premium will be set at pricing.

If the notes are not called, the payout at maturity will be par plus the contingent maximum return of 37% to 41% if each index finishes above its respective initial level. The exact contingent maximum return will be set at pricing.

The payout will be the contingent minimum return of par plus 10% if either or both indexes fall by up to 30%. If one or both underlying indexes finish below 70% of their respective initial prices, investors will lose 1% for each 1% decline of the least-performing index from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22550W4J3) are expected to price Jan. 19 and settle on Jan. 26.

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