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Credit Suisse plans contingent coupon notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Dec. 16 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Dec. 30, 2022 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.
Every six months, the notes will pay a contingent coupon at the rate of at least 6.25% per year if each index closes at or above its knock-in level, 70% of its initial level, on the observation date for that semiannual period.
The notes will be callable at par quarterly.
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 Dec. 20.
The Cusip number is 22551NC95.
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