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Credit Suisse plans contingent coupon callable notes tied to indexes
By Toni Weeks
San Luis Obispo, Calif., Aug. 5 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Aug. 27, 2018 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 pay a contingent coupon unless either index closes below its coupon barrier level, 70% of its initial level, on the observation date for that interest period. The contingent coupon rate is expected to be 7.75% to 8.25% per year and will be set at pricing. Interest is payable semiannually.
The payout at maturity will be par unless either index finishes below its knock-in level, 70% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
The notes will be callable at par on any interest payment date beginning Feb. 26, 2016.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price Aug. 21 and settle Aug. 26.
The Cusip number is 22546VJM9.
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