Credit Suisse plans contingent coupon callable notes on two indexes

By Marisa Wong

Morgantown, W.Va., Sept. 8 – Credit Suisse AG plans to price contingent coupon callable yield notes due Sept. 24, 2018 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 10.5% per year and will be set at pricing.

The notes will be callable at par plus the contingent coupon on any coupon payment date.

If the notes are not called and the final index level of each index is greater than or equal to its 70% knock-in level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Sept. 18 and settle on Sept. 23.

The Cusip number is 22546VM45.

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