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Credit Suisse plans contingent coupon callable yield notes on indexes
By Angela McDaniels
Tacoma, Wash., Sept. 27 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Oct. 13, 2020 linked to the lower performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon unless either index closes below its knock-in level, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 5.7% per year and will be set at pricing.
Beginning April 12, 2018, the notes will be callable at par on any interest payment date.
The payout at maturity will be par unless either index finishes below its knock-in level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price Oct. 5.
The Cusip number is 22550BK85.
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