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Credit Suisse plans contingent coupon callable notes on two indexes
By Susanna Moon
Chicago, March 23 – Credit Suisse AG plans to price contingent coupon callable yield notes due April 24, 2018 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 at an annual rate of 7% to 7.5% if each index closes at or above its barrier level, 70% of the initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are callable at par plus accrued interest on any contingent coupon payment date beginning Oct. 26, 2015.
Credit Suisse Securities (USA) LLC is the placement agent.
The notes will price on April 17 and settle on April 24.
The Cusip number is 22546VA48.
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