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Credit Suisse plans 7%-9% autocallable yield notes tied to two indexes
By Susanna Moon
Chicago, Sept. 8 – Credit Suisse AG, London branch plans to price 7% to 9% autocallable yield notes due Sept. 16, 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 initial level on Dec. 11, 2015, March 11, 2016 or June 13, 2016.
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 worse performing index with full exposure to any losses.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Sept. 11 and settle on Sept. 16.
The Cusip number is 22546VLZ7.
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