Credit Suisse plans contingent coupon callable yield notes on indexes

By Devika Patel

Knoxville, Tenn., Oct. 18 – Credit Suisse AG, London branch, plans to price contingent coupon callable yield notes due Oct. 25, 2019 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an expected annualized rate of 9% if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that period. The exact coupon will be set at pricing.

The notes are callable in whole but not in part at par plus any coupon on any coupon payment date beginning Jan. 25, 2018.

The payout at maturity will be par unless any of the indexes finishes below its knock-in level, 75% of its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 22550BLU5) are expected to price Oct. 20 and settle Oct. 25.

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