Credit Suisse plans autocallable securities on S&P 500, oil & gas ETF

By Marisa Wong

Morgantown, W.Va., Nov. 14 – Credit Suisse AG, London Branch plans to price autocallable securities due Nov. 30, 2020 linked to the S&P 500 index and 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 automatically called at par plus an annualized redemption premium of 12% to 16% if each underlying asset closes at or above its initial level on any annual review date.

If each underlying asset finishes at or above its initial level, the payout at maturity will be par plus the contingent maximum return of 48% to 64%.

If either underlying asset finishes below its initial level, the payout will be par plus 10% unless either underlying asset finishes at or below its 50% knock-in level, in which case investors will be fully exposed to the decline of the lesser performing asset.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price Nov. 23 and settle on Nov. 29.

The Cusip number is 22548QMP7.

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