Credit Suisse plans contingent coupon callable yield notes on indexes

By Wendy Van Sickle

Columbus, Ohio, May 12 – Credit Suisse AG, London branch, plans to price contingent coupon callable yield notes due May 26, 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 quarterly coupon at an annualized rate of 6.25% to 7.25% if each index closes above its coupon barrier level, 70% of its initial level, on the observation date for that period. The exact coupon will be set at pricing.

The notes are callable in whole but not in part at par on any coupon payment date after six months.

The payout at maturity will be par unless either of the indexes finishes below its knock-in level, in which case investors will lose 1% for each 1% increase or decline of the worse performing index from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22550B3T8) are expected to price May 19 and settle May 26.

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