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

By Sarah Lizee

Olympia, Wash., Sept. 12 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due March 18, 2021 linked to the lowest 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 quarterly coupon at an annualized rate of 8% if each index closes at or above its barrier level, 70% of its initial level, on a related observation date.

The notes will be called at par if each index closes above its initial level on any quarterly trigger observation date starting Dec. 13.

The payout at maturity will be par unless either index closes below its 70% knock-in level on any day during the life of the notes, in which case the payout will be par plus the return of the lesser performing index with full exposure to losses and a maximum payout of par.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Sept. 13.

The Cusip number is 22552FV58.

© 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.