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Credit Suisse plans contingent coupon callable yield notes on indexes
By Toni Weeks
San Luis Obispo, Calif., Dec. 18 - Credit Suisse AG plans to price contingent coupon callable yield notes due Dec. 27, 2016 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its coupon barrier level, 70% of its initial level, on a quarterly observation date, the notes will pay a coupon that quarter at a rate that is expected to be 8.45% per year and will be set at pricing.
The payout at maturity will be par unless any index's final level is less than its knock-in level, 70% of its initial level, in which case investors will receive par plus the return of the lowest-performing index.
Beginning March 27, 2014, the notes will be callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes are expected to price Dec. 20 and settle Dec. 27.
The Cusip number is 22547QF43.
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