Credit Suisse plans high/low coupon callable notes on S&P 500, Russell

By Marisa Wong

Madison, Wis., Oct. 1 - Credit Suisse AG plans to price high/low coupon callable yield notes due May 5, 2015 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event will occur if either underlying index ever closes at or below its 75% knock-in level during any observation period.

The coupon will be 8% to 10% per year unless a knock-in event occurs, in which case the coupon will be 1% per year for that and each subsequent interest period. Interest will be payable quarterly. The exact coupon rate will be set at pricing.

The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lower performing index, up to a maximum payout of par.

The notes are callable at par on any interest payment date.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes will price on Oct. 31 and settle on Nov. 5.

The Cusip number is 22547QBJ4.

© 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.