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Credit Suisse to price contingent coupon yield notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 4 – Credit Suisse AG, London Branch plans to price 6% contingent coupon yield notes due Feb. 24, 2020 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 semiannual coupon at an annualized rate of 6% if each index closes at or above its coupon barrier level, expected to be about 55% of its initial level, on the observation date for that period.
The payout at maturity will be par unless either index finishes at or below the knock-in level, expected to be about 55% of the initial level, in which case investors will be fully exposed to the loss of the worse performing index.
The exact barrier and knock-in levels will be set at pricing.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Feb. 18 and settle on Feb. 3.
The Cusip number is 22546VWU6.
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