Credit Suisse plans contingent coupon callable notes on oil, tech ETFs

By Marisa Wong

Morgantown, W.Va., Dec. 4 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due June 10, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of at least 7.85% if each underlying fund closes at or above its 60% coupon barrier on the observation for that quarter.

The notes are callable at par on any quarterly contingent coupon payment date.

The payout at maturity will be par the contingent coupon unless either underlying fund finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worse performing fund.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Dec. 5.

The Cusip number is 22550BSJ3.

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