Credit Suisse plans step-up contingent coupon notes linked to indexes

By Angela McDaniels

Tacoma, Wash., June 3 – Credit Suisse AG plans to price step-up contingent coupon callable yield notes due June 30, 2025 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon unless either index closes below its coupon barrier level, 70% of its initial level, on the observation date for that quarter. The contingent coupon rate will be 9% per year on each coupon payment date to and including June 28, 2019, 11% per year on each coupon payment date from and including Sept. 30, 2019 to and including June 30, 2023 and 13% per year on each coupon payment date from and including Sept. 29, 2023 to and excluding the maturity date.

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

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

Incapital LLC is the agent.

The notes will price June 25 and settle June 30.

The Cusip number is 22546VEV4.

© 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.