Credit Suisse plans 12% contingent coupon callable yield notes on indexes

By Sarah Lizee

Olympia, Wash., Oct. 12 – Credit Suisse AG, London Branch plans to price 12% contingent coupon callable yield notes due Oct. 22, 2020 linked to the lowest performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annualized rate of 12% if each index closes above its coupon barrier level, expected to be 75% of its initial level, on the observation date for that period. The exact coupon will be set at pricing.

At Credit Suisse’s option, the notes are callable at par on any coupon payment date after Jan. 22, 2019 and before maturity.

The payout at maturity will be par unless either index finishes below its knock-in level, expected to be 75% of its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes are expected to price on Oct. 17.

The Cusip number is 22551LFJ4.

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