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Credit Suisse plans 8.5%-9.5% contingent coupon autocalls on indexes
By Susanna Moon
Chicago, Jan. 11 – Credit Suisse AG, London Branch plans to price market-linked securities due Jan. 27, 2022 – autocallable with contingent coupon and contingent downside linked to the worst performing of the S&P 500 index, the Russell 2000 index and 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 8.5% to 9.5% if each index closes at or above its 75% coupon threshold on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below its 75% downside threshold, in which case the payout will be par plus the return with full exposure to any losses of the worst performing index.
Wells Fargo Securities, LLC is the agent.
The notes will price on Jan. 30.
The Cusip number is 22551LRN2.
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