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Credit Suisse plans 7% to 9% autocallable yield notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Aug. 2 – Credit Suisse AG, London Branch plans to price 7% to 9% autocallable yield notes due Dec. 6, 2019 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly. The exact coupon will be set at pricing.
The notes will be called at par if both underlying assets close at or above their initial values on March 1, 2019, June 3, 2019 or Sept. 3, 2019.
The payout at maturity will be par unless either underlying asset closes below its 75% knock-in level on any day during the life of the notes and either underlying asset finishes below its initial value, in which case investors will be fully exposed to the decline of the worse performing asset.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Aug. 31 and settle on Sept. 6.
The Cusip number is 22551L2T6.
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