Credit Suisse eyes callable contingent income securities on indexes

By Wendy Van Sickle

Columbus, Ohio, Feb. 7 – Credit Suisse AG, London Branch plans to price contingent income callable securities due Feb. 14, 2019 linked to the lesser performing of the, the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

Each quarter, the notes will pay a contingent coupon at an annual rate of 8.4% if each index closes at or above its downside threshold level, 65% of its initial index level, on the determination date for that quarter.

The notes are callable at par on any quarterly determination date beginning on Aug. 15.

If each index finishes at or above its initial level or no index has closed below its downside threshold level any day during the life of the notes, the payout at maturity will be par plus the final contingent coupon, if any. Otherwise, investors will be fully exposed to the decline of the least performing index.

Credit Suisse Securities (USA) LLC is the agent, with Morgan Stanley Wealth Management handling distribution.

The notes (Cusip: 22548QV44) are expected to price Feb. 10 and settle Feb. 15.

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