Credit Suisse plans contingent coupon autocallables linked to Pandora

By Angela McDaniels

Tacoma, Wash., Aug. 5 – Credit Suisse AG plans to price contingent coupon autocallable yield notes due Aug. 20, 2015 linked to the common stock of Pandora Media, Inc., 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 19.5% per year if Pandora stock closes at or above the barrier price on the observation date for that quarter. The barrier price is expected to be about 65% of the initial share price.

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

If the notes are not called and the final share price is greater than the knock-in price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price. The knock-in price is expected to be about 65% of the initial share price.

The exact terms will be set at pricing.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price Aug. 15 and settle Aug. 20.

The Cusip number is 22547QS49.

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