Credit Suisse plans 14% contingent coupon autocallables on GM, Valero

New York, May 11 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due May 17, 2018 linked to the lowest performing of the common stock of General Motors Co. and Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 14% if both stocks close at or above their coupon barrier levels, 75% of the initial levels, on the observation date for that quarter.

The notes will be automatically called at par plus the contingent coupon if both stocks close at or above their initial level on any quarterly trigger observation date.

The payout at maturity will be par unless either stock finishes below its 75% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing stock.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on May 12 and settle on May 17.

The Cusip number is 22549JGU8.

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