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Credit Suisse plans contingent coupon callable yield notes on indexes
By Jennifer Chiou
New York, April 24 - Credit Suisse AG plans to price contingent coupon callable yield notes due May 9, 2017 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 semiannual coupon at an annual rate of between 6.25% and 6.75% if each index closes at or above its barrier level, 70% of the initial level, on the observation date for that period. The exact coupon will be set at pricing.
The notes will be callable at par plus the contingent coupon on any semiannual interest payment beginning on Nov. 10.
The payout at maturity will be par unless either index finishes at or below its 70% knock-in level, in which case investors will be fully exposed to the decline of the worst-performing index.
The notes (Cusip: 22547QME3) are expected to price on May 2 and settle on May 9.
Credit Suisse Securities (USA) LLC is the agent.
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