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Credit Suisse plans contingent coupon autocallables on S&P, Russell
By Susanna Moon
Chicago, Feb. 11 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Feb. 26, 2024 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 contingent monthly coupon at an annual rate of between 8.25% and 8.75% if each index closes above its coupon barrier level, 60% of the initial level, on the observation date for that month.
The payout at maturity will be par unless either index finishes below its 60% knock-in level, in which case investors will be fully exposed to any loss of the worse performing index.
The notes will be called at par plus any contingent coupon on any interest payment date if each index closes at or above its initial level beginning Feb. 27, 2017.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Feb. 26 and settle on March 2.
The Cusip number is 22546VWZ5.
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