Credit Suisse plans contingent coupon callable yield notes on indexes

By Toni Weeks

San Luis Obispo, Calif., Dec. 12 – Credit Suisse AG plans to price contingent coupon callable yield notes due Dec. 21, 2020 linked to the S&P 500 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 if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 6.25% to 6.75% per year and will be set at pricing.

The payout at maturity will be par unless either index finishes below its 65% knock-in level, in which case investors will be fully exposed to the decline of the least-performing index.

The notes will be callable at par on any interest payment after one year.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price Dec. 16 and settle Dec. 19.

The Cusip number is 22547QZE9.

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