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Credit Suisse plans contingent coupon callable notes on S&P, Russell
By Marisa Wong
Madison, Wis., Feb. 26 - Credit Suisse AG, Nassau Branch plans to price contingent coupon callable yield notes due March 22, 2016 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual coupon of 6.25% to 6.75% per year if each index closes at or above the 70% barrier level on the observation date for that semiannual period. Otherwise, no coupon will be paid that period. The exact contingent coupon will be set at pricing.
The notes are callable at par plus the contingent coupon on any interest payment date.
The payout at maturity will be par unless either index finishes at or below the 70% knock-in level, in which case investors will receive par plus the return of the worse performing component.
Credit Suisse Securities (USA) LLC is the agent.
The notes are expected to price on March 15 and settle on March 22.
The Cusip number is 22546T2K6.
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