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Credit Suisse plans 10.75% contingent income callables tied to indexes
By Susanna Moon
Chicago, Oct. 10 – Credit Suisse AG, London branch plans to price contingent income issuer callable notes due April 15, 2021 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 10.75% if each index closes at or above its 75% coupon barrier on the quarterly determination date.
The notes are callable at par on any interest payment date.
The payout at maturity will be par plus the coupon unless any index finishes below its 75% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
Credit Suisse Securities (USA) LLC is the agent.
The notes are expected to price on Oct. 12.
The Cusip number is 22551LFB1.
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