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Credit Suisse to price contingent coupon yield notes linked to Russell
By Marisa Wong
Madison, Wis., Aug. 27 – Credit Suisse AG plans to price contingent coupon yield notes due Sept. 21, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its coupon barrier level, 75% of its initial level, on a quarterly observation date, the notes will pay a coupon for that period at a rate that is expected to be 6.4% to 6.6% per year and will be set at pricing.
The payout at maturity will be par unless the final level is equal to or less than the knock-in level, 75% of the initial index level, in which case investors will be fully exposed to losses from the initial level.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes are expected to price Sept. 12 and settle Sept. 19.
The Cusip number is 22547QSL1.
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