Credit Suisse eyes contingent coupon callable yield notes on indexes, ETF

By Sarah Lizee

Olympia, Wash., July 2 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due July 11, 2023 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 10% if each underlying asset closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.

Credit Suisse may call the notes in whole but not in part at par on any quarterly call observation date starting Jan. 13, 2020.

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

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on July 8.

The Cusip number is 22552FML3.

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