Credit Suisse plans autocallables linked to indexes, regional bank ETF

By Angela McDaniels

Tacoma, Wash., Jan. 9 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Jan. 27, 2020 linked to the S&P 500 index, the Russell 2000 index and the SPDR S&P Regional Banking exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon unless any underlier closes below its knock-in level, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 8.25% per year and will be set at pricing.

Beginning July 20, 2017, the notes will be automatically called at par if each underlier closes at or above its initial index level on any quarterly trigger observation date.

The payout at maturity will be par unless any underlier finishes below its knock-in level, in which case investors will be exposed to the decline of the least-performing underlier.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price Jan. 20.

The Cusip number is 22548QSN6.

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