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Credit Suisse eyes contingent coupon autocallable yield notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., May 18 – Credit Suisse AG, London Branch, plans to price contingent coupon autocallable yield notes due Aug. 30, 2021 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a quarterly coupon at the rate of 10.5% per year if each index closes above its 80% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the coupon if each index closes above its initial level on any quarterly trigger observation date after six months.
The payout at maturity will be par unless either index finishes below its 80% knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level with a maximum payout of par.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price on May 26.
The Cusip number is 22552W4P7.
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