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Credit Suisse plans contingent coupon callable yield notes linked to S&P 500, Russell 2000
By Tali Rackner
Norfolk, Va., Jan. 4 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Jan. 27, 2020 linked to the lowest performing of 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 7.5% to 8.5% if each index closes above its 70% coupon barrier level on the observation date for that period.
The notes are callable in whole but not in part at par on any coupon payment date beginning on July 27, 2017.
The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will be fully exposed to the losses of the lowest performing index.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Jan. 20 and settle on Jan. 27.
The Cusip number is 22548QS48.
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