Credit Suisse plans contingent coupon callable yield notes on indexes

By Wendy Van Sickle

Columbus, Ohio, Dec. 11 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Dec. 29, 2020 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at an annual rate of 6.25% to 6.75% if each index closes above its coupon barrier level, about 65% of its initial level, on the observation date for that quarter. Otherwise, no coupon will be paid for that quarter.

The payout at maturity will be par unless either index finishes below its knock-in level, about 60% of its initial level, in which case investors will be fully exposed to the loss of the worse performing index.

The exact coupon, coupon barrier level and knock-in level will be set at pricing.

After one year, the notes will be callable at par plus any contingent coupon on any interest payment date.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Dec. 23 and settle on Dec. 29.

The Cusip number is 22546VSN7.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.