Credit Suisse eyes contingent coupon callable yield note on index, ETF

By Devika Patel

Knoxville, Tenn., May 11 – Credit Suisse AG, London Branch, plans to price contingent coupon buffered callable yield notes due May 18, 2020 linked to 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.

The notes will pay a quarterly coupon at an expected annualized rate of 7% if each underlying closes above its coupon barrier level, expected to be 73.5% of its initial level, on the observation date for that period. The exact coupon and coupon barrier level will be set at pricing.

The notes are callable in whole but not in part at par on any quarterly call date beginning on May 17, 2018.

The payout at maturity will be par unless either of the underlyings finishes below its buffer level, expected to be 73.5%, in which case investors will lose 1.3605% for each 1% decline of the worse performing underlying from the buffer level.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22550B4N0) are expected to price May 12 and settle May 17.

© 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.