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Credit Suisse plans callable yield notes tied to S&P 500, Russell 2000
By Marisa Wong
Madison, Wis., Feb. 26 - Credit Suisse AG, Nassau Branch plans to price callable yield notes due March 22, 2016 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon of 6.25% to 6.75% per year if each index closes at or above 70% of its initial level on a semiannual observation date. Otherwise, no coupon will be paid that semiannual period. The exact rate will be set at pricing.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either index finishes at or below the 70% knock-in level, in which case investors will receive par plus the return of the worse performing index.
Credit Suisse Securities (USA) LLC will be the agent.
The notes will price on March 15 and settle on March 22.
The Cusip number is 22546T2K6.
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