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Credit Suisse plans contingent coupon callable yield notes on ETFs
By Emma Trincal
New York, Sept. 1 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Sept. 25, 2023 linked to the SPDR S&P Biotech exchange-traded fund and the Technology Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon at the rate of 13.35% per year if each fund closes at or above its coupon barrier, 70% of its initial level, on a semiannual observation date.
The notes are callable at par semiannually.
The payout at maturity will be par unless the least-performing fund finishes below its knock-in level, 70% of its initial level, in which case investors will lose 1% for every 1% that the least-performing fund declines from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Sept. 18 and settle on Sept. 23.
The Cusip number is 22552WHB4.
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