Credit Suisse plans contingent coupon callable notes on indexes, ETF

By Angela McDaniels

Tacoma, Wash., Aug. 12 – Credit Suisse AG, Nassau Branch plans to price contingent coupon callable yield notes due Aug. 20, 2018 linked to the S&P 500 index, the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon unless any underlying component closes below its barrier level, 60% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be at least 8.3% per year and will be set at pricing.

The payout at maturity will be par unless any underlying component finishes below its barrier level, in which case investors will be fully exposed to the decline of the least-performing underlying component.

The notes will be callable at par on any interest payment date.

Barclays is the agent.

The notes will price Aug. 13 and settle Aug. 18.

The Cusip number is 22546VK21.

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