Credit Suisse plans high/low coupon notes linked to Russell, oil fund

By Susanna Moon

Chicago, Feb. 1 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due Sept. 5, 2014 linked to the Russell 2000 index and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event occurs if either underlying component ever falls to or below the 65% trigger level during the life of the notes.

The coupon will be 10.25% to 12.25% if a knock-in event never occurs during any quarterly observation period. Otherwise, the coupon for that period and each subsequent interest period will be 1%. Interest is payable quarterly.

The notes are callable at par on any interest payment date beginning June 5.

The payout at maturity will be par unless a knock-in event occurs, in which case investors will receive par plus the return of the worse performing component, up to a maximum payout of par.

Credit Suisse Securities (USA) LLC will be the agent.

The notes will price on Feb. 28 and settle on March 5.

The Cusip number is 22546TW56.

© 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.