Credit Suisse plans contingent coupon callable yield notes on indexes

By Sarah Lizee

Olympia, Wash., Jan. 13 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due July 27, 2022 linked to the lesser performing of the Russell 2000 index, the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each six months, the notes pay a contingent coupon at the rate of 6.75% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.

The notes may be called in whole, but not in part, at par plus any coupon on any contingent coupon payment date except the final one at the issuer’s option.

The payout at maturity will be plus the coupon, if any, unless either index finishes below its 75% knock-in level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Jan. 17.

The Cusip number is 22551NJG2.

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