Credit Suisse plans contingent coupon callable yield notes on indexes

By Toni Weeks

San Luis Obispo, Calif., July 11 – Credit Suisse AG plans to price contingent coupon callable yield notes 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 are expected to mature 6.25 to 6.75 years after pricing.

The notes will pay a contingent quarterly coupon at an annual rate of 6.25% if each index closes at or above its barrier level, 65% of the initial level, on the observation date for that period.

The payout at maturity will be par unless either index finishes at or below its 65% knock-in level, in which case investors will be fully exposed to the decline of the worst-performing index.

The notes will be callable at par plus the contingent coupon on any quarterly interest payment date beginning Feb. 13, 2015.

Credit Suisse Securities (USA) LLC is the agent.

The exact maturity date and coupon will be set at pricing.

The notes (Cusip: 22547QQL3) are expected to price Aug. 8 and settle Aug. 13.

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