Credit Suisse plans 6.35% contingent coupon callables on S&P, Russell

By Susanna Moon

Chicago, June 15 – Credit Suisse AG, London branch plans to price contingent coupon callable yield notes due June 29, 2023 linked to the least performing of the Russell 2000 index and the S&P 500 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 6.35% if each index closes at or above its 60% coupon barrier on the observation date for that quarter.

The notes are callable at par on any review date.

The payout at maturity will be par unless either underlying index closes below its 60% 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 agent.

The notes will price on June 22 and settle on June 29.

The Cusip number is 22550WXQ5.

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