Credit Suisse plans contingent coupon autocallable yield notes on Allergan

By Tali Rackner

Norfolk, Va., July 22 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Aug. 2, 2017 linked to the ordinary shares of Allergan plc, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon if Allergan closes at or above its barrier level, roughly 80% of the initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 11.6% per year and will be set at pricing.

The payout at maturity will be par unless Allergan finishes below its 80% knock-in level, in which case investors will be fully exposed to the decline.

The notes will be automatically called at par if Allergan closes at or above its initial level on any quarterly trigger observation date.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on July 28 and settle on Aug. 2.

The Cusip number is 22548QCN3.

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