Credit Suisse plans contingent coupon callable yield notes on indexes

By Marisa Wong

Madison, Wis., May 17 - Credit Suisse AG, Nassau Branch plans to price contingent coupon callable yield notes due May 28, 2015 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 quarterly coupon of 4% to 4.5% per year if each index closes at or above its barrier level on the observation date for that period. Otherwise, no coupon will be paid that period. The barrier level will be about 60% of the index's initial level.

The notes will be callable at par plus the contingent coupon, if any, on any interest payment date.

The payout at maturity will be par unless either index finishes at or below its knock-in level, in which case investors will be fully exposed to the decline of the worst-performing index from its initial level. The knock-in level is expected to be 60% of the initial level.

The notes (Cusip: 22547Q3F1) are expected to price on May 20 and settle on May 28.

Credit Suisse Securities (USA) LLC is the agent.

© 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.