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Credit Suisse plans contingent coupon callables on S&P, Russell
By Lisa Mayntz
Chicago, Feb. 24 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due March 31, 2022 linked to the lowest performing of the S&P 500 index and the Russell 2000 index, according to a FWP filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annualized rate of 6% to 6.5% unless either index closes below its coupon barrier level, 60% of its initial level, on the observation date for that month.
The notes will be callable quarterly beginning March 30, 2018 at par.
The payout at maturity will be par unless the least-performing index closes below its 60% knock-in level, in which case investors will be fully exposed to the depreciation of the worst-performing index.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on March 28 and settle on March 31.
The Cusip number is 22548QVY8.
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