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Credit Suisse plans contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 12 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Dec. 18, 2019 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 11.25% if each index closes at or above its coupon barrier level, 75% of its initial level, on every trading day that period.
The notes are callable in whole but not in part at par on any of the coupon payment dates beginning on March 19, 2018.
The payout at maturity will be par unless any index finishes below its knock-in level, 75% of its initial level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
The notes are expected to price Dec. 13 and settle Dec. 18.
The Cusip number is 22550BTA1.
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