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Credit Suisse plans contingent coupon callable notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Sept. 24 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Sept. 30, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 7.45% per year unless the index closes below its barrier level, 75% of its initial level, on the observation date for that month.
The payout at maturity will be par unless the index finishes below its barrier level, in which case investors will be fully exposed to the index’s decline.
Beginning Sept. 30, 2016, the notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
The notes are expected to price Sept. 28 and settle Sept. 30.
The Cusip number is 22546VK96.
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