Credit Suisse plans callable contingent income notes tied to indexes

By Susanna Moon

Chicago, Aug. 22 – Credit Suisse AG, London Branch plans to price callable contingent income securities due Feb. 28, 2020 linked to the least performing of 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 contingent quarterly coupon at an annual rate of 8.5% if each index closes at or above the 75% coupon barrier on an observation date for that quarter.

The notes are callable at par on any quarterly determination date beginning Nov. 30.

The payout at maturity will be par unless any index finishes below its 65% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.

Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is distributor.

The notes are expected to price on Aug. 25 and settle on Aug. 31.

The Cusip number is 22550BFU2.

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