Credit Suisse plans contingent coupon callable notes tied to indexes

By Susanna Moon

Chicago, April 10 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due May 4, 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 will pay a contingent quarterly coupon at an annual rate of 7.5% to 9.5% if each index closes at or above its 70% coupon barrier on the observation date for that quarter. The exact coupon will be set at pricing.

The notes are callable at par plus the contingent coupon on any interest payment date beginning Nov. 3, 2017.

The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will lose 1% for each 1% decline of the worse performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on April 28 and settle on May 3.

The Cusip number is 22548QYH2.

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