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Credit Suisse plans contingent coupon autocallables linked to stocks
By Marisa Wong
Morgantown, W.Va., April 11 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Oct. 18, 2017 linked to the common stocks of Las Vegas Sands Corp. and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay contingent monthly coupon at an annualized rate of 16.25% if each stock closes above its coupon barrier level, 60% of its initial level, on the observation date for that month.
The notes will be called at par if each stock closes at or above its initial level on any coupon payment date beginning July 13.
The payout at maturity will be par unless either stock finishes below its 60% knock-in level, in which case investors will be exposed to the decline of the worst performing stock.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on April 13 and settle on April 18.
The Cusip number is 22548Q3M5.
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