Credit Suisse plans contingent income autocallables linked to Biogen

By Susanna Moon

Chicago, March 21 – Credit Suisse AG plans to price contingent income autocallable securities due March 29, 2018 linked to Biogen Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 10.25% if the stock closes at or above the 75% coupon barrier on a determination date for that quarter.

The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial level on any determination date other than the final date.

The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.

Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.

The notes will price on March 24 and settle on March 29.

The Cusip number is 22549A554.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.