Credit Suisse plans contingent coupon yield notes tied to Russell, S&P

By Angela McDaniels

Tacoma, Wash., April 8 – Credit Suisse AG, London Branch plans to price contingent coupon yield notes due May 4, 2021 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each index closes at or above its barrier level, 55% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 5.8% to 6.3% per year and will be set at pricing.

The payout at maturity will be par unless either index finishes below its barrier level, in which case investors will be fully exposed to the decline in the lesser-performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price April 29.

The Cusip number is 22548Q3S2.

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