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Credit Suisse plans contingent coupon callable yield notes on indexes
By Sarah Lizee
Olympia, Wash., June 7 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due June 28, 2024 tied to the lowest performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 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 7% unless any index closes below its knock-in level, 60% of its initial level, on the observation date for that period.
Beginning Sept. 30, 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.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price June 26.
The Cusip number is 22552FJT0.
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