Credit Suisse plans contingent coupon callable yield notes on funds

By Wendy Van Sickle

Columbus, Ohio, Feb. 29 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Sept. 5, 2017 linked to the United States Oil Fund, LP and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay quarterly coupon at an annualized rate of 10.25% to 12.25% if each fund closes above its barrier level, expected to be about 50% of its initial level, on the observation date for that quarter. The exact coupon and barrier will be set at pricing.

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

The payout at maturity will be par unless either of the funds finishes below its barrier, in which case investors will be exposed to the decline of the worst-performing fund.

The notes will price March 1 and settle March 4.

Credit Suisse Securities (USA) LLC is the agent.

The Cusip number is 22546VY42.

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