Credit Suisse plans contingent coupon callable yield notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, May 5 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due May 29, 2026 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annualized rate of 10% if each index closes above its barrier level, expected to be about 70% of its initial level, on the observation date for that quarter.

The notes are callable in whole but not in part at par on any coupon payment date after Aug. 31, 2016.

The payout at maturity will be par unless either of the indexes finishes below its knock-in level, expected to be 50%, in which case investors will be exposed to the decline of the worse performing index.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22548Q6A8) are expected to price May 25 and settle May 31.

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