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Credit Suisse plans 6%-7% autocallable yield notes tied to two indexes
By Marisa Wong
Madison, Wis., March 5 – Credit Suisse AG plans to price 6% to 7% autocallable yield notes due Sept. 12, 2016 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus accrued interest if each component closes at or above its trigger level on any quarterly observation date after one year. The trigger level is expected to be 100% of the initial level.
A knock-in event will occur if either component closes at or below its knock-in level, 70% of the initial level, on any trading day during the life of the notes.
The payout at maturity will be par unless a knock-in event occurs, in which case the payout will be par plus the return of the lower performing index and investors will share in any losses.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on March 9 and settle on March 12.
The Cusip number is 22546V6M3.
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