Credit Suisse plans contingent coupon callable yield notes on indexes

By Devika Patel

Knoxville, Tenn., June 13 – Credit Suisse AG, London Branch, plans to price contingent coupon callable yield notes due June 21, 2019 linked to the S&P 500 index, 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 coupon at an annualized rate of 10% if each index closes above its coupon barrier level, 75% of its initial level, on the observation date for that period. The exact coupon will be set at pricing.

The notes are callable in whole but not in part at par on any coupon payment date after Sept. 21, 2017 and before maturity.

The payout at maturity will be par unless any of the indexes finishes below its knock-in level, 75% of its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 22550BAX1) are expected to price June 16 and settle June 21.

© 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.