Credit Suisse plans contingent coupon callable yield notes on indexes

By Angela McDaniels

Tacoma, Wash., March 19 - Credit Suisse AG plans to price contingent coupon callable yield notes due March 26, 2024 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.

Each quarter, the notes will pay a contingent coupon at an annualized rate of 10% if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.

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

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

Credit Suisse Securities (USA) LLC is the agent.

The notes are expected to price March 21 and settle March 26.

The Cusip number is 22547QKU9.

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