Credit Suisse eyes contingent coupon autocallable yield notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., April 4 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due July 20, 2020 linked to the lowest 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 quarterly coupon at an annualized rate of 8.5% to 10.5% if each index closes at or above its coupon barrier level, 70% of its initial level, on a related observation date.

The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly call observation date beginning July 15.

A knock-in event will occur if, on any day during the life of the notes, either index falls below 70% of its initial level.

If a knock-out event has not occurred, the payout at maturity will be par.

If a knock-out event has occurred, the payout will be par plus the return of the lesser performing index with full exposure to the loss, subject to a maximum payout of par.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on April 15.

The Cusip number is 22552F6T4.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.