Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Credit Suisse AG, London Branch > News item |
Credit Suisse plans step-up contingent coupon callable yield notes on indexes
By Sarah Lizee
Olympia, Wash., April 4 – Credit Suisse AG, London Branch plans to price step-up contingent coupon callable yield notes due April 29, 2022 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon unless either index closes below its barrier level, 70% of its initial level, on the observation date for that quarter. The contingent coupon is 5.5% per annum initially, stepping up to 7% per annum on July 30, 2020 and to 10% per annum on July 30, 2021.
The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
The notes are callable in whole but not in part at par on any quarterly redemption date beginning July 30.
Credit Suisse Securities (USA) LLC is the agent.
The notes (Cusip: 22552F7C0) are expected to price April 25.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.