Credit Suisse to price high/low coupon notes linked to S&P, Russell

By Angela McDaniels

Tacoma, Wash., Oct. 22 – Credit Suisse AG, London Branch plans to price high/low coupon callable yield notes due May 3, 2017 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event occurs if either index closes below its knock-in level, 60% of its initial level.

Interest is payable quarterly. The coupon is expected to be 7.4% to 9.4% per year – the exact rate will be set at pricing – unless a knock-in event occurs during the quarter, in which case the interest rate for that quarter and each subsequent quarter will be 1%.

The notes will be callable at par on any interest payment date.

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 worst-performing index, subject to a maximum payout of par.

Credit Suisse Securities (USA) LLC is the agent.

The notes are expected to price Oct. 28 and settle Nov. 2.

The Cusip number is 22546VPC4.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.