Credit Suisse plans contingent coupon callable notes on index, fund

By Susanna Moon

Chicago, Oct. 28 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Nov. 29, 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 10% to 12% if each component closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.

The notes are callable at par on any coupon payment date beginning May 30, 2017.

The payout at maturity will be par unless either component finishes below its 60% knock-in level, in which case the payout will be par plus the return of the worse performing component, up to a maximum payout of par.

Credit Suisse Securities (USA) LLC is the agent.

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

The Cusip number is 22548QLV5.

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