Credit Suisse plans 11% contingent coupon callables tied to funds

By Susanna Moon

Chicago, Jan. 16 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Jan. 24, 2020 linked to the least performing of the VanEck Vectors Gold Miners exchange-traded fund, the SPDR S&P Oil & Gas Exploration & Production ETF and the SPDR S&P Retail ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 11% if each fund closes at or above its 60% coupon barrier on an observation date for that quarter.

The notes are callable at par on any contingent interest payment date after six months.

The payout at maturity will be par unless any fund finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worst performing fund.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Jan. 19 and settle on Jan. 24.

The Cusip number is 22550W6A0.

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