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Credit Suisse plans step-up contingent coupon callable notes on indexes
By Susanna Moon
Chicago, Aug. 1 – Credit Suisse AG, London Branch plans to price step-up contingent coupon callable yield notes due Aug. 29, 2024 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter. The annualized rate will be 9% initially, stepping up to 10% on Aug. 29, 2019 and to 12% on Aug. 29, 2022.
The notes are callable on any quarterly call date.
The payout at maturity will be par unless either index finishes below the knock-in level, 50% of its initial level, in which case investors will be fully exposed to any losses of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
The notes are expected to price on Aug. 26 and settle on Aug. 29.
The Cusip number is 22547QRN8.
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