Credit Suisse plans contingent coupon callable notes on S&P, Russell

By Toni Weeks

San Luis Obispo, Calif., June 6 - Credit Suisse AG, Nassau Branch plans to price contingent coupon callable yield notes due July 2, 2018 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 6% to 6.5% per year if each index closes at or above the 65% barrier level on the observation date for that quarter. 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 beginning Jan. 2, 2014.

The payout at maturity will be par unless either index finishes at or below the 65% knock-in level, in which case investors will receive par plus the return of the worst- performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22547Q3W4) are expected to price June 26 and settle June 28.

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