Credit Suisse plans callable contingent income notes on three indexes

By Devika Patel

Knoxville, Tenn., Sept. 13 – Credit Suisse AG, London branch plans to price callable contingent income securities due June 18, 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 filed with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent quarterly coupon at an annual rate of at least 9% if each index closes at or above its coupon barrier level, 75% of its initial index level, on each trading day of that quarter. The exact coupon will be set at pricing.

The notes are callable at par on any quarterly determination date beginning on Dec. 20.

If each index finishes at or above its 65% knock-in level, the payout at maturity will be par plus the final contingent coupon, if any. If the final level of any index is less than the knock-in level, investors will lose 1% for each 1% decline of the least-performing index from its initial level.

Credit Suisse Securities (USA) LLC is the agent, with Morgan Stanley Wealth Management handling distribution.

The notes (Cusip: 22550BHP1) are expected to price on Sept. 15 and settle Sept. 20.

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