Credit Suisse to price contingent coupon callable yield on S&P, Russell

By Sarah Lizee

Olympia, Wash., Oct. 8 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Nov. 5, 2021 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon at an annualized rate of 7.5% to 9.5% if each index closes at or above its coupon barrier, 70% of its initial level, on the related observation date.

The notes may be called in whole, but not in part, at par on any contingent coupon payment date beginning on May 6, 2019.

The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the lesser-performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Oct. 31.

The Cusip number is 22551LDD9.

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