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Credit Suisse plans contingent coupon autocallables on four stocks
By Marisa Wong
Madison, Wis., Oct. 29 – Credit Suisse AG plans to price contingent coupon autocallable yield notes due Nov. 6, 2018 linked to Verizon Communications Inc., Nike, Inc., Johnson & Johnson and American Express Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 8% annualized if each stock closes at or above its coupon barrier level, 60% of the initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above the 97.5% trigger level on any interest payment date.
The payout at maturity will be par unless any stock finishes at or below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worst performing stock.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Oct. 30 and settle on Nov. 6.
The Cusip number is 22547QW28.
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