Credit Suisse plans autocallable securities tied to SPDR S&P Oil & Gas

By Susanna Moon

Chicago, Oct. 18 – Credit Suisse AG, London branch plans to price autocallable securities due Oct. 28, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of 14% if the fund closes at or above its initial level on any annual review date.

If the fund finishes at or above the initial level, the payout at maturity will be par plus 56%.

If the fund falls but finishes above the 70% knock-in level, the payout will be par plus 10%.

Otherwise, investors will be fully exposed to any losses.

The exact terms will be set at pricing.

Credit Suisse is the agent.

The notes will price on Oct. 21 and settle on Oct. 28.

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