Credit Suisse eyes contingent coupon autocallable yield notes on indexes

By Sarah Lizee

Olympia, Wash., Oct. 28 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due May 4, 2021 linked to the lowest performing of the Russell 2000 index, the Dow Jones industrial average 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 6% if each index closes above its coupon barrier level, expected to be 75% of its initial level, on the observation date for that period.

After six months, the notes will be automatically called at par on any quarterly observation date if each index closes at or above its initial level on the observation date for that quarter.

A knock-in event will occur if any index finishes below 70% of its initial level.

If a knock-in event has not occurred, the payout at maturity will be par.

If a knock-in event has occurred, the payout will be par plus the return of the least performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes are expected to price on Oct. 30.

The Cusip number is 22551N3K0.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.