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Credit Suisse eyes callable contingent income securities on indexes
By Sarah Lizee
Olympia, Wash., Sept. 10 – Credit Suisse AG, London Branch plans to price callable contingent income securities due Sept. 15, 2022 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 13.7% per year if each index closes at or above its coupon barrier, 75% of its initial level, on each trading day during that quarter.
The notes are callable at par quarterly.
The payout at maturity will be par unless the least-performing index finishes below its knock-in level, 75% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is acting as distributor.
The notes will price on Sept. 11.
The Cusip number is 22552WK38.
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