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

By Wendy Van Sickle

Columbus, Ohio, Oct. 14 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due April 30, 2018 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 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 at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter.

The notes will be callable at par on any determination date beginning in April 2017.

The payout at maturity will be par unless either index falls below the 75% 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 underwriter.

The notes will price on Oct. 21 and settle on Oct. 28.

The Cusip number is 22548QL86.

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