Credit Suisse plans contingent coupon callable yield notes on indexes

By Susanna Moon

Chicago, Feb. 6 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Feb. 28, 2022 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 quarterly coupon at an annualized rate of 6.5% if each index closes above its 60% coupon barrier on the observation date for that quarter.

The notes are callable in whole but not in part at par on any coupon payment date beginning Feb. 28, 2018.

The payout at maturity will be par unless either of the indexes finishes below its 60% knock-in level, in which case investors will lose 1% for each 1% decline of the worse performing index.

The exact deal terms will be set at pricing.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Feb. 23 and settle on Feb. 28.

The Cusip number is 22548QU94.

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