Credit Suisse plans callable contingent income notes on three indexes

By Sarah Lizee

Olympia, Wash., Feb. 8 – Credit Suisse AG, London Branch plans to price callable contingent income securities due Feb. 19, 2021 to the lesser performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent quarterly coupon at an annual rate of 10.75% if each index closes at or above its coupon barrier level, 75% of its initial index level, on each trading date of that quarter.

The notes are callable at par plus any coupon on any quarterly redemption date.

If each index finishes at or above its 75% knock-in level, the payout at maturity will be par plus the final contingent coupon, if any. If the final level of any index is less than the knock-in level, investors will lose 1% for each 1% decline of the least-performing index from its initial level.

Credit Suisse International is the agent, with Morgan Stanley Smith Barney LLC handling distribution.

The notes (Cusip: 22551LXE5) are expected to price on Feb. 15.

© 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.