Credit Suisse plans step-up contingent coupon callable notes on indexes

By Marisa Wong

Morgantown, W.Va., Oct. 31 – Credit Suisse AG, London Branch plans to price step-up contingent coupon callable yield notes due Nov. 29, 2026 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 monthly coupon if each index closes at or above its coupon barrier level, 60% of its initial level, on the applicable monthly observation date. The contingent coupon rate is 7% per year initially, then steps up to 10% per year on Nov. 30, 2021 and to 12% per year on Nov. 29, 2024.

The payout at maturity will be par unless either index finishes below its knock-in level, 50% of its initial level, in which case investors will be fully exposed to any losses of the worse performing index.

The notes are callable quarterly beginning Nov. 30, 2017.

Credit Suisse Securities (USA) LLC is the agent.

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

The Cusip number is 22548QMB8.

© 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.