Credit Suisse plans contingent coupon callable notes tied to indexes

By Devika Patel

Knoxville, Tenn., Jan. 2 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Jan. 26, 2021 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at an expected annual rate of between 7.25% and 8.25% if each index closes at or above its coupon barrier level, expected to be 70% of the initial level, on the observation date for that period. The exact coupon and coupon barrier level will be set at pricing.

The notes may be called in whole but not in part at par plus any contingent coupon on any contingent coupon payment date beginning on July 16, 2018.

The payout at maturity will be par unless either index finishes below its expected 70% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level. The exact knock-in level will be set at pricing.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22550W4N4) are expected to price on Jan. 19 and settle on Jan. 26.

© 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.