Credit Suisse plans contingent coupon autocallables on KeyCorp

By Marisa Wong

Madison, Wis., Oct. 9 – Credit Suisse AG plans to price contingent coupon autocallable yield notes due Oct. 28, 2015 linked to the common shares of KeyCorp, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon at a rate that is expected to be 10.75% per year if KeyCorp stock closes at or above the coupon barrier price on the observation date for that quarter. The coupon barrier price is expected to be about 85% of the initial share price.

The notes will be automatically called at par if the stock closes at or above the trigger price, which is expected to be equal to the initial share price, on any quarterly observation date.

If the notes are not called and the final share price is greater than or equal to the knock-in price, which is expected to be 85% of the initial share price, the payout will be par. Otherwise, investors will be fully exposed to the stock’s decline.

The exact terms will be set at pricing.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

The notes are expected to price Oct. 10 and settle Oct. 16.

The Cusip number is 22547QUP9.

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