Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
Credit Suisse plans high/low coupon callable yield notes on two indexes
By Marisa Wong
Morgantown, W.Va., March 1 – Credit Suisse AG, London Branch plans to price high/low coupon callable yield notes due Oct. 5, 2017 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange.
A knock-in event occurs if either index closes below its knock-in level, 65% of its initial level, on any day during any observation period.
Each quarter, the notes will pay a coupon at a rate of 10% to 12% per year unless a knock-in event occurs during the quarter, in which case the interest rate for that quarter and each subsequent quarter will be 1%.
The notes may be called at par on any coupon payment date.
The payout at maturity will be par unless a knock-in event occurs, in which case the payout will be par plus the return of the worst performing index, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on March 31 and settle on April 5.
The Cusip number is 22546VYD2.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.