Credit Suisse plans contingent coupon callable notes on two indexes

By Marisa Wong

Morgantown, W.Va., May 20 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due May 27, 2021 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 semiannual coupon at an annual rate of 6.85% to 7.35% if each index closes at or above its coupon barrier level, 55% of the initial level, on the observation date for that semiannual period.

The notes will be callable at par on any contingent coupon payment date beginning Nov. 28, 2016.

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 losses of the worse performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on May 24 and settle on May 27.

The Cusip number is 22548Q6Q3.

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