Credit Suisse to price contingent coupon autocallables on SunTrust

By Devika Patel

Knoxville, Tenn., Aug. 29 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Sept. 19, 2018 linked to the common stock of SunTrust Banks, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its coupon barrier level, 81% of its initial price, on the observation date for that quarter.

The notes will be called at par plus the coupon if the stock closes at or above its initial price on Dec. 14, March 15, 2018 or June 14, 2018.

The payout at maturity will be par unless the stock finishes below its 81% knock-in level, in which case investors will lose 1% for each 1% decline from the initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 22550BH71) are expected to price Sept. 1 and settle Sept. 7.

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