Credit Suisse plans contingent coupon autocalls on Workday, Zoom Video

By Sarah Lizee

Olympia, Wash., Jan. 10 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due July 21, 2022 linked to the common stocks of Workday, Inc. and Zoom Video Communications, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If each stock closes at or above the coupon barrier level, 70% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 17.5% per year.

The notes will be called at par plus the contingent coupon if each stock closes at or above its trigger level, 90% of its initial share price, on any quarterly observation date.

If the notes are not called, the payout at maturity will be par unless either stock finishes below the 70% knock-in level, in which case investors will lose 1% for each 1% decline of the laggard stock.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Jan. 15.

The Cusip number is 22551NJE7.

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