Credit Suisse eyes autocallable yield notes tied to five tech stocks

By Lisa Mayntz

Chicago, Feb. 10 – Credit Suisse AG, London Branch plans to price autocallable yield notes due Feb. 28, 2018 linked to the lowest performing of the common stocks of International Business Machines Corp., Microsoft Corp., Intel Corp., Cisco Systems, Inc. and Oracle Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon at an annualized rate of 8.25% to 9.25% if each stock closes above its knock-in level, 70% of its initial level, on the observation date for that month.

The notes will be automatically called at par plus the contingent coupon if each stock closes above its initial level on any observation date beginning May 24, 2017.

The payout at maturity will be par unless any of the stocks closes below its knock-in level, in which case investors will receive a number of shares of the worst-performing stock equal to $1,000 divided by the initial share price.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Feb. 23 and settle on Feb. 28.

The Cusip number is 22549JEJ5.

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