Credit Suisse plans 10% contingent coupon autocallables on stocks

By Susanna Moon

Chicago, Jan. 22 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Jan. 29, 2021 linked to the least performing of the common stocks of Amgen Inc., Biogen Inc., Celgene Corp. and Gilead Sciences, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 10% if each stock closes at or above its 55% coupon barrier on an observation date for that month.

The notes will be called at par if each stock closes at or above its initial level on any observation date.

The payout at maturity will be par unless any stock finishes below its 55% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Jan. 25 and settle on Jan. 30.

The Cusip number is 22550W7A9.

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