Credit Suisse plans contingent coupon callable yield notes on indexes

By Toni Weeks

San Luis Obispo, Calif., June 4 – Credit Suisse AG plans to price contingent coupon callable yield notes due June 30, 2025 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon unless any index closes below its coupon barrier level, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 10% per year and will be set at pricing.

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

Beginning Sept. 30, the notes will be callable at par on any interest payment date.

Incapital LLC is the agent.

The notes will price June 25 and settle June 30.

The Cusip number is 22546VCY0.

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