Credit Suisse plans contingent 8.5%-10.5% step-up callables on indexes

By Susanna Moon

Chicago, Sept. 15 – Credit Suisse AG, London Branch plans to price step-up contingent coupon callable yield notes due Sept. 29, 2027 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent quarterly coupon at an annual rate if each index closes at or above its 75% coupon barrier on the observation date for that quarter. The contingent coupon is expected to be 8.5% for the first five-year step-up period and 10.5% for the second five-year step-up period.

The notes are callable on any quarterly review date after one year.

The payout at maturity will be par unless either index finishes below its 60% knock-in level, in which case investors will receive par plus the return of the worse performing index, up to a maximum payout of par.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Sept. 26.

The Cusip number is 22550BHH9.

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