Credit Suisse eyes contingent coupon autocallables on oil and gas ETF

By Devika Patel

Knoxville, Tenn., Feb. 9 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Feb. 28, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 12% if the ETF closes above its coupon barrier level, 75% of its initial level, on the observation date for that period.

The notes will be callable at par if the ETF closes above its initial level on May 25, 2017, Aug. 24, 2017 or Nov. 22, 2017.

The payout at maturity will be par unless the ETF finishes below its 75% 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: 22548QVC6) are expected to price Feb. 10 and settle Feb. 15.

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