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Credit Suisse plans contingent coupon callable yield notes on indexes
By Angela McDaniels
Tacoma, Wash., March 28 - Credit Suisse AG, Nassau Branch plans to price contingent coupon callable yield notes due April 26, 2016 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 semiannual coupon of 6% to 6.5% per year if each index closes at or above its barrier level on the observation date for that period. Otherwise, no coupon will be paid that period. The barrier level will be 70% of the index's initial level.
The notes will be callable at par plus the contingent coupon, if any, on any interest payment date.
The payout at maturity will be par unless either index finishes at or below its knock-in level, in which case investors will be fully exposed to the decline of the worst-performing index from its initial level. The knock-in level will be 70% of its initial level.
Credit Suisse Securities (USA) LLC is the agent.
The notes are expected to price April 19 and settle April 26.
The Cusip number is 22546T4P3.
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