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Credit Suisse plans contingent coupon callable notes on two indexes
By Marisa Wong
Madison, Wis., March 5 – Credit Suisse AG plans to price contingent coupon callable yield notes due March 29, 2019 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 will pay a quarterly contingent coupon if each index closes at or above its barrier level, 60% of the initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 5.6% per year and will be set at pricing.
The payout at maturity will be par unless either index finishes below its 60% knock-in level, in which case investors will be fully exposed to the decline of the least-performing index.
The notes are callable at par plus accrued interest on any contingent coupon payment date beginning March 31, 2016.
Incapital LLC is the placement agent.
The notes will price on March 26 and settle on March 31.
The Cusip number is 22546V6P6.
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