Credit Suisse plans 5.85%-6.85% contingent coupon callables on indexes

By Tali Rackner

Minneapolis, Jan. 11 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Jan. 26, 2021 linked to the lesser performing of 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 semiannual coupon at an annualized rate of 5.85% to 6.85% if each index closes at or above its 70% coupon barrier on an observation date for that period.

The notes are callable at par on any semiannual call date after six months.

The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the lesser-performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes are expected to price on Jan. 19 and settle on Jan. 26.

The Cusip number is 22550W4L8.

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