Credit Suisse plans 20.85% contingent coupon autocalls tied to stocks

By Susanna Moon

Chicago, Nov. 9 – Credit Suisse AG, London branch plans to price contingent coupon autocallable yield notes due Nov. 18, 2019 linked to the lowest performing of the common stock of Boeing Co., the class B common stock of CBS Corp. and the common stock of Vertex Pharmaceuticals Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at an annual rate of 20.85% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any call date.

The payout at maturity will be par unless any stock finishes below its knock-in level, 70% of its initial level, in which case investors will receive par plus the return of the worst performing stock.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Nov. 10 and settle on Nov. 16.

The Cusip number is 22550BPA5.

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