Credit Suisse to price contingent coupon autocallables on two ETFs

By Marisa Wong

Morgantown, W.Va., Aug. 22 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Feb. 28, 2019 linked to the lesser performing of the SPDR S&P Biotech exchange-traded fund and the Utilities Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7% if each fund closes at or above its 67% coupon barrier on the observation date for that quarter.

The notes will be called at par if each fund closes at or above its initial level on any quarterly review date.

The payout at maturity will be par unless either fund finishes below its 57% knock-in level, in which case investors will receive par plus the return of the worse performing fund, with full exposure to losses.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Aug. 23.

The Cusip number is 22550BFV0.

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