Credit Suisse plans floating-rate trigger callable contingent yield notes on S&P, Stoxx

New York, April 10 – Credit Suisse AG, London Branch plans to price floating-rate trigger callable contingent yield notes with quarterly coupon observation due April 28, 2023 linked to the least performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon of at least Libor plus 500 basis points if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate will be set at pricing.

After one year, Credit Suisse may call the notes at par of $10 on each quarterly observation date other than the final one.

If the notes are not called and each index finishes at or above its downside threshold, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.

UBS Financial Services Inc. will act as distributor.

The notes will price on April 26 and settle on April 30.

The Cusip number is 22549M285.

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