Credit Suisse to price contingent coupon autocallables tied to stocks

By Angela McDaniels

Tacoma, Wash., Jan. 8 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Jan. 31, 2022 linked to the lowest performing of the common stocks of Chevron Corp., Humana Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 11.25% to 12.25% per year unless any stock closes below its knock-in level, 60% of its initial share price, on the observation date for that month, in which case the notes will not pay any interest for that month. The exact contingent coupon rate will be set at pricing.

The notes will be automatically called at par if each stock closes at or above its trigger level, 95% of its initial share price, on any quarterly trigger observation date.

The payout at maturity will be par unless any stock finishes below its knock-in level, in which case investors will lose 1% for every 1% that the least-performing stock declines form its initial share price.

Incapital LLC is the agent.

The notes will price Jan. 28.

The Cusip number is 22551LTG5.

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