Credit Suisse plans contingent coupon autocallable notes on indexes

By Devika Patel

Knoxville, Tenn., May 27 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Dec. 9, 2021 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11% if each index closes at or above its coupon barrier level, 70% of the initial level, on the observation date for that quarter.

The notes will be automatically called at par plus the contingent coupon if the closing level of both of the indexes is greater than their respective initial levels on any quarterly observation date from Sept. 3, 2020 to Sept. 3, 2021.

The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22552W5N1) are expected to price June 4 and settle June 9.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.