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Published on 6/6/2014 in the Prospect News Structured Products Daily.

Credit Suisse plans step-up contingent coupon notes on indexes

By Marisa Wong

Madison, Wis., June 6 – Credit Suisse AG plans to price step-up contingent coupon callable yield notes due June 28, 2024 linked to the performance of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate if each index closes at or above its 75% coupon barrier level on the determination date for that quarter. The rate will be 8% for the first four years, stepping up to 10% for years five to seven and to 12% after that.

The payout at maturity will be par unless either index finishes below its 50% knock-in level, in which case investors will be fully exposed to any losses of the worse performing index.

The notes are callable on any contingent coupon payment date.

Incapital LLC is the placement agent.

The notes will price on June 25 and settle on June 30.

The Cusip number is 22547QNZ5.


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