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Credit Suisse to price autocallable securities due 2021 on Euro Stoxx
By Sarah Lizee
Olympia, Wash., July 30 – Credit Suisse AG, London Branch plans to price 0% autocallable securities due Aug. 10, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 11.1% per year if the index closes at or above the initial level on Aug. 12, 2019 or Aug. 10, 2020.
If the final index level is greater than or equal to the initial level, the payment at maturity will be par plus the contingent return, expected to be 33.3%.
If the index falls but the final index level is greater than or equal to the knock-in level, 80% of the initial level, the payout will be par.
If the index falls by more than 20%, investors will lose 1% for every 1% that the final level is less than the initial level.
The exact knock-in level and contingent return will be set at pricing.
Credit Suisse Securities (USA) LLC is the agent.
The notes (Cusip: 22551L2A7) are expected to price Aug. 7 and settle Aug. 10.
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