Credit Suisse plans contingent coupon callable yield notes on indexes

By Devika Patel

Knoxville, Tenn., Feb. 17 – Credit Suisse AG, London branch, plans to price contingent coupon callable yield notes due May 24, 2018 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annualized rate of at least 9.75% if each index closes above its coupon barrier level, 75% of its initial level, on the observation date for that period. The exact coupon will be set at pricing.

The notes are callable in whole but not in part at par on any coupon payment date after Nov. 24, 2017 and before maturity.

The payout at maturity will be par unless either of the indexes close below its knock-in level, 75% of its initial level, during the life of the notes, in which case investors will gain or lose 1% for each 1% increase or decline of the worse performing index from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22548QVS1) are expected to price Feb. 21 and settle Feb. 24.

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