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Credit Suisse plans contingent coupon autocallables tied to Comcast
By Susanna Moon
Chicago, Aug. 21 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Dec. 5, 2018 linked to the common stock of Comcast Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if the shares close at or above the 75% coupon barrier on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial level on Feb. 28, 2018, May 31, 2018 or Aug. 30, 2018.
The payout at maturity will be par unless the stock finishes below its 75% knock-in level, in which case investors will lose 1% for each 1% decline in the stock from its initial level.
JPMorgan is the agent.
The notes will price on Aug. 30 and settle on Sept. 5.
The Cusip number is 22550BFM0.
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