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Credit Suisse plans contingent coupon callable yield notes on indexes
By Sarah Lizee
Olympia, Wash., May 16 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due June 3, 2020 tied to the lowest 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.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 9.7% unless any index closes below its knock-in level, 75% of its initial level, on the observation date for that period.
Beginning Sept. 5, the notes will be callable at par on any quarterly observation date.
The payout at maturity will be par unless any index finishes below its knock-in level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.
The notes will price May 17.
The Cusip number is 22552FFS6.
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