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Credit Suisse to price contingent coupon autocallables on three stocks
By Devika Patel
Knoxville, Tenn., April 14 – Credit Suisse AG, London branch, plans to price contingent coupon autocallable yield notes due April 26, 2017 linked to the common stocks of Papa John’s International, Inc., Domino’s Pizza, Inc. and Buffalo Wild Wings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay contingent monthly coupon at an annualized rate of 14.3% if each stock closes above its coupon barrier level, 70% of its initial level, on the observation date for that month.
The notes will be called at par if each stock closes at or above its initial level on any coupon payment date beginning July 21, 2016.
The payout at maturity will be par unless any stock finishes below its 70% knock-in level, in which case investors will be exposed to the decline of the worst performing stock.
Credit Suisse Securities (USA) LLC is the agent.
The notes (Cusip: 22548Q3Z6) are expected to price April 21 and settle April 26.
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