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Credit Suisse eyes contingent coupon autocallable yield notes on indexes
By Tali Rackner
Norfolk, Va., March 21 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Sept. 28, 2018 linked to the lesser performing of 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 contingent coupon at an annual rate of 7% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on June 27, Sept. 26, Dec. 22, 2017, March 27, 2018 or June 26, 2018.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the lesser-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 22548QX42.
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