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Credit Suisse plans contingent coupon autocallables linked to indexes
New York, Nov. 2 – Credit Suisse AG plans to price contingent coupon autocallable yield notes due Nov. 13, 2020 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 contingent quarterly coupon at an annual rate of between 5.75% and 6.25% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter. The precise coupon rate will be set at pricing.
Starting Nov. 8, 2017, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either index finishes below its 60% knock-in 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 will price on Nov. 9 and settle on Nov. 13.
The Cusip number is 22546VQ41.
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