Credit Suisse plans fixed-to-contingent coupon callable yield notes on indexes with 7% initial rate

By Toni Weeks

San Luis Obispo, Calif., Sept. 3 – Credit Suisse AG plans to price fixed-to-contingent coupon callable yield notes due Sept. 30, 2024 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a fixed quarterly coupon of 7% for the first 3.75 years. Beginning June 29, 2018, the notes will pay a contingent quarterly coupon of 7% if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.

The notes are callable on any quarterly call date after one year.

The payout at maturity will be par unless either index finishes below the knock-in level, 50% of its initial level, in which case investors will be fully exposed to the decline of the worst-performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Sept. 25 and settle on Sept. 30.

The Cusip number is 22547QT63.

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