Credit Suisse plans high/low coupon callable notes on two indexes

By Toni Weeks

San Luis Obispo, Calif., Feb. 27 – Credit Suisse AG plans to price high/low coupon callable yield notes due Sept. 30, 2016 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event occurs if either underlying component falls to or below its knock-in level during any quarterly observation period. The knock-in level is expected to be 67.5% to 72.5% of the initial level and will be determined at pricing.

If a knock-in event never occurs, the coupon will be 8%. If a knock-in event occurs during any quarterly observation period, the coupon for that interest period and each subsequent interest period is expected to be 1%. Interest is payable quarterly.

The notes are callable on any interest payment date beginning June 30, 2015.

If a knock-in event occurs, the payout at maturity will be par plus the return of the worst-performing component, up to a maximum payout of par. If a knock-in event does not occur, investors will receive par.

The notes (Cusip: 22546V5X0) are expected to price March 26 and settle March 31.

Credit Suisse Securities (USA) LLC is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.