Credit Suisse eyes contingent coupon callable yield notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Jan. 14 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Jan. 31, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each six months, the notes pay a contingent coupon at the rate of 5.85% per year if each index closes at or above its knock-in level, 70% of its initial level, on the observation date for that period.

The notes are callable at par semiannually.

The payout at maturity will be par unless either index finishes below its knock-in level, in which case investors will be exposed to the decline of the lesser-performing index from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Jan. 24.

The Cusip number is 22551NHE9.

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