Credit Suisse plans contingent coupon callable yield notes on indexes

By Wendy Van Sickle

Columbus, Ohio, Sept. 30 – Credit Suisse AG, London branch, plans to price contingent coupon callable yield notes due Oct. 28, 2019 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a semiannual coupon at an annualized rate of 9.25% to 10.25% if each index closes above its barrier level, expected to be about 70% of its initial level, on the observation date for that period. The exact coupon and barrier will be set at pricing.

The notes are callable in whole but not in part at par on any coupon payment date.

The payout at maturity will be par unless either of the indexes finishes below its knock-in level, expected to be 70%, in which case investors will lose 1% for each 1% decline of the worse performing index. The exact knock-in level will be set at pricing.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22548QKE4) are expected to price Oct. 21 and settle Oct. 28.

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