Credit Suisse plans contingent coupon autocallable yield notes linked to three stocks

By Wendy Van Sickle

Columbus, Ohio, May 18 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due May 24, 2018 linked to the common stocks of Celgene Corp., Gilead Sciences, Inc. and Regeneron Pharmaceuticals, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annual rate of 22% if each stock closes at or above 70% of its initial level on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date on or after Aug. 19, 2016.

The payout at maturity will be par unless any stock closes at or below its knock-in level, 70% of its initial level, in which case the payout will be the number of shares of the lowest performing stock equal to the physical delivery amount, plus a cash amount in respect of any fractional share.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on May 19.

The Cusip number is 22548Q6U4.

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