Credit Suisse plans contingent income notes linked to Wynn Resorts

By Angela McDaniels

Tacoma, Wash., Oct. 30 – Credit Suisse AG plans to price autocallable contingent income securities due Nov. 8, 2018 linked to the common stock of Wynn Resorts Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 10.75% per year if the stock closes at or above its downside threshold level, 75% of its initial share price, on the observation date for that quarter.

The notes will be automatically called at par of $10 plus the contingent coupon if the stock closes at or above its initial share price on Feb. 5, 2018, May 3, 2018 or Aug. 3, 2018.

If the stock finishes at or above its downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the stock’s decline from its initial share price.

Credit Suisse Securities (USA) Inc. is the agent. Morgan Stanley Smith Barney LLC is acting as distributor.

The notes will price Nov. 3.

The Cusip number is 22549D517.

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