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Credit Suisse to price autocallable yield notes on S&P 500, Russell
By Devika Patel
Knoxville, Tenn., Sept. 24 – Credit Suisse AG, London branch, plans to price 7.2% autocallable yield notes due Jan. 3, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus the interest payment if each index closes at or above 105% of its initial level on March 29, 2019, June 28, 2019 or Sept. 30, 2019.
The payout at maturity will be par unless either index closes below its 73% knock-in level on any day during the life of the notes, in which case investors will be fully exposed to the any losses of the worst performing index or receive par if the index gains or remains flat.
Credit Suisse Securities (USA) LLC is the agent.
The notes (Cusip: 22551LBM1) are expected to price Sept. 28 and settle Oct. 3.
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