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Credit Suisse plans contingent coupon autocalls tied to S&P, Russell
By Susanna Moon
Chicago, July 5 – Credit Suisse AG, London branch plans to price contingent coupon autocallable yield notes due Jan. 21, 2020 linked to the worse 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 6.75% to 8.75% if each underlying index closes at or above its 75% coupon barrier on each trading day for that quarter.
The notes are called at par if each index closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless either underlying index ever closes below its 75% knock-in level during the life of the notes, 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 July 16.
The Cusip number is 22550WYX9.
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