Credit Suisse plans 5.25%-7.25% contingent coupon callables on indexes

By Susanna Moon

Chicago, Sept. 7 – Credit Suisse AG, London branch plans to price contingent coupon callable yield notes due Oct. 3, 2023 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 5.25% to 7.25% if each underlying index closes at or above its 50% coupon barrier on the observation date for that quarter.

The notes are callable on any interest payment date after one year.

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

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Sept. 28.

The Cusip number is 22551L7E4.

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