Credit Suisse plans autocallable contingent income notes on Amazon

By Sarah Lizee

Olympia, Wash., Oct. 11 – Credit Suisse AG plans to price autocallable contingent income securities due Oct. 22, 2021 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 8.05% if the shares close at or above the coupon barrier level, 60% of the initial share price, on the determination date for that quarter.

The notes will be automatically called at par plus the contingent coupon if the shares close at or above the initial share price on any determination date beginning Jan. 22, 2019.

If the final share price is greater than or equal to the 60% downside threshold level, the payout at maturity will be par plus the final contingent interest payment. Otherwise, investors will lose 1% for each 1% decline of the stock from its initial level.

Credit Suisse Securities (USA) LLC is the agent. Distribution is through Morgan Stanley Wealth Management.

The notes (Cusip: 22549R565) will price on Oct. 19.

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