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Credit Suisse plans contingent coupon callable yield notes on indexes
By Tali Rackner
Minneapolis, Feb. 16 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Aug. 24, 2020 linked to the Russell 2000 index, the MSCI Emerging Markets 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 8.5% if each index closes above its coupon barrier level, 60% 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 on any coupon payment date on or after May 22 but before maturity.
The payout at maturity will be par unless any of the indexes finishes below its knock-in level, 60% of its initial level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Feb. 20 and settle on Feb. 23.
The Cusip number is 22550WD79.
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