Credit Suisse plans contingent coupon autocallables on S&P 500, Russell

By Susanna Moon

Chicago, Nov. 7 – Credit Suisse AG plans to price contingent coupon autocallable yield notes due Nov. 29, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.

The payout at maturity will be par unless either index finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.

The notes will be called at par if each index closes at or above the initial level on any interest payment date beginning Nov. 22, 2016.

Incapital LLC is the placement agent.

The notes will price on Nov. 24 and settle on Nov. 28.

The Cusip number is 22547QVL7.

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