Credit Suisse changes dates for contingent coupon callable yield notes linked to indexes

By Toni Weeks

San Luis Obispo, Calif., May 21 - Credit Suisse AG changed the pricing, settlement, call and maturity dates for its upcoming issue of contingent coupon callable yield notes linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will now mature March 25, 2020 rather than Feb. 21, 2020.

The notes will be callable at par plus the contingent coupon on any quarterly interest payment date beginning Dec. 26, previously Nov. 21.

In addition, the notes will price on June 20 and settle on June 25 instead of May 16 and May 21, respectively.

The rest of the terms will remain the same.

The notes will pay a contingent quarterly coupon at an annual rate of 6.25% to 7.25% if each index closes at or above its barrier level, 65% of the initial level, on the observation date for that period. The exact coupon will be set at pricing.

The payout at maturity will be par unless either index finishes at or below its 65% knock-in level, in which case investors will be fully exposed to the decline of the worst-performing index.

Credit Suisse Securities (USA) LLC is the agent.

The Cusip number is 22547QML7.

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