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Credit Suisse plans contingent coupon callable yield notes on indexes
By Angela McDaniels
Tacoma, Wash., Sept. 4 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Oct. 5, 2018 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Every six months, the notes will pay a contingent coupon unless either index closes below its coupon barrier level, 70% of its initial level, on the observation date for that semiannual period. The contingent coupon rate is expected to be 8.25% to 8.75% per year and will be set at pricing.
The payout at maturity will be par unless either index finishes below its knock-in level, 70% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
The notes will be callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price Sept. 30 and settle Oct. 5.
The Cusip number is 22546VLA2.
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