Credit Suisse plans 7.15%-8.15% contingent coupon callables on indexes

By Susanna Moon

Chicago, April 10 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due April 27, 2021 linked to the lesser performing of 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 7.15% to 8.15% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.

The notes are callable at par on any interest payment date beginning Oct. 19, 2018.

The payout at maturity will be par unless either index closes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the worse performing index.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes will price on April 20.

The Cusip number is 22550WN86.

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