Credit Suisse delays pricing of contingent coupon notes on indexes

By Angela McDaniels

Tacoma, Wash., March 6 – Credit Suisse AG, London Branch now plans to price its contingent coupon autocallable yield notes due Sept. 10, 2018 linked to the lesser performing of the S&P 500 index and the Russell 2000 index on March 7, according to a 424B2 filing with the Securities and Exchange Commission.

The issuer originally planned to price the notes on March 6.

As before, the notes will pay a quarterly contingent coupon at an annual rate of 5.25% if each index closes at or above its knock-in level, 70% of its initial level, on the observation date for that quarter.

The notes will be automatically called at par if each index closes at or above its initial level on any quarterly trigger observation date.

The payout at maturity will be par unless either index closes below its knock-in level on any day during the life of the notes, in which case investors will receive par plus the return of the lesser-performing index, subject to a maximum payout of par.

Credit Suisse Securities (USA) LLC is the agent.

The Cusip number is 22548QWZ4.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.