Credit Suisse plans contingent coupon callable notes on S&P, Russell

By Marisa Wong

Morgantown, W.Va., March 21 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due March 31, 2020 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 pay a semiannual contingent coupon at the rate of 7.25% to 7.75% per year if each index closes at or above its barrier level, 70% of its initial level, on the applicable semiannual observation date.

The notes are callable at par of $1,000 on any contingent coupon payment date prior to maturity.

The payout at maturity will be par plus the final coupon payment unless either index finishes below 70% of its initial level, in which case investors will lose 1% for every 1% decline of the lesser-performing index below its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price March 24.

The Cusip number is 22548QWY7.

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