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Credit Suisse plans contingent coupon callable yield notes on Russell
By Marisa Wong
Madison, Wis., Oct. 24 - Credit Suisse AG plans to price contingent coupon callable yield notes due Oct. 31, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the index closes at or above its barrier level, 75% of the initial level, on the observation date for that quarter.
The notes will be callable at par plus the contingent coupon on any interest payment after one year.
The payout at maturity will be par unless the index finishes below its 55% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Oct. 29 and settle on Oct. 31.
The Cusip number is 22547QCQ7.
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