Credit Suisse plans contingent coupon autocallable yield notes on lululemon, L Brands

By Wendy Van Sickle

Columbus, Ohio, May 2 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due May 11, 2017 linked to the common stocks of lululemon athletica inc. and L Brands, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon at an annual rate of 13.3% if each index closes at or above 70% 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 monthly observation date on or after Aug. 8, 2016.

The payout at maturity will be par unless either 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 6.

The Cusip number is 22548Q5T8.

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