Credit Suisse plans contingent coupon autocallables on S&P, Russell

By Devika Patel

Knoxville, Tenn., Feb. 24 – Credit Suisse AG, London branch, plans to price contingent coupon autocallable yield notes due March 3, 2021 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7.25% to 7.75% if each index closes above its coupon barrier level, 55% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.

The payout at maturity will be par unless either index finishes below its 55% knock-in level, in which case investors will be fully exposed to any loss of the worse performing index.

Beginning Feb. 28, 2017, the notes will be callable at par plus any contingent coupon on any interest payment date if the closing level of both indexes are greater than or equal to their respective initial levels.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22546VXJ0) are expected to price Feb. 29 and settle March 3.

© 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.