Credit Suisse plans contingent coupon callable notes on index, fund

By Wendy Van Sickle

Columbus, Ohio, Sept. 9 – Credit Suisse AG plans to price contingent coupon callable yield notes due Oct. 7, 2019 linked to the S&P 500 index and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11% to 13% if each component closes at or above its coupon barrier level, 60% of its initial level, on an observation date for that quarter.

The notes will be callable at par on any interest payment date beginning April 5, 2017.

The payout at maturity will be par plus the final contingent coupon unless either component finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worse performing component.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Sept. 30 and settle on Oct. 5.

The Cusip number is 22548QFG5.

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