Credit Suisse eyes contingent coupon autocallable yield notes on stocks

By Sarah Lizee

Olympia, Wash., Aug. 28 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Sept. 3, 2025 linked to the lowest performing of the stocks of Tesla, Inc., Advanced Micro Devices, Inc. and Wayfair Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon at an annualized rate of 26.5% if each stock closes at or above its barrier level, 60% of its initial level, on a related observation date.

The notes will be called at par plus the coupon if each stock closes at or above 90% of its initial level on any quarterly observation date after six months.

The payout at maturity will be par plus any coupon due unless any stock finishes below its 50% knock-in level, in which case the payout will be par plus the return of the least performing stock with full exposure to losses.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Aug. 31.

The Cusip number is 22552WGK5.

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