Credit Suisse plans contingent coupon autocallables linked to indexes

By Angela McDaniels

Tacoma, Wash., Oct. 3 - Credit Suisse AG plans to price 6.55% contingent coupon autocallable yield notes due Oct. 31, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If both indexes close at or above their coupon barrier levels, 75% of their initial levels, on a quarterly observation date, the notes will pay a coupon that quarter at a rate that is expected to be 6.55% per year.

Beginning Oct. 30, 2015, the notes will be automatically called at par plus the contingent coupon, if any, if each index closes at or above its initial level on a quarterly observation date.

The payout at maturity will be par unless either index's final level is less than its knock-in level, 75% of its initial level, in which case investors will receive par plus the return of the lowest-performing index.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes are expected to price Oct. 28 and settle Oct. 31.

The Cusip number is 22547QC61.

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