Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Euro Stoxx 50 index > News item |
Credit Suisse to price step-up contingent coupon callable yield notes
By Devika Patel
Knoxville, Tenn., May 15 – Credit Suisse AG, London Branch, plans to price step-up contingent coupon callable yield notes due May 28, 2027 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon unless either index closes below its barrier level, 70% of its initial level, on the observation date for that month. The contingent coupon is 8% per annum initially, stepping up to 12% on May 31, 2022.
The payout at maturity will be par unless either index finishes below its 50% knock-in level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
The notes are callable in whole but not in part at par on any quarterly redemption date beginning May 31, 2018.
Credit Suisse Securities (USA) LLC is the agent.
The notes (Cusip: 22550B3W1) are expected to price May 25 and settle May 31.
© 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.