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Credit Suisse plans contingent coupon callable yield notes on indexes
New York, May 29 – Credit Suisse AG, London Branch, plans to price 6.75% to 7.75% contingent coupon callable yield notes due June 29, 2021 linked to the lowest performing of the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a semi-annual coupon at an annualized rate of 6.75% to 7.75% if each index closes above its coupon barrier level, expected to be 70% of its initial level, on the observation date for that period. The exact coupon will be set at pricing.
At Credit Suisse’s option, the notes are callable at par on any coupon payment date after Dec. 19, 2018 and before maturity.
The payout at maturity will be par unless either index finishes below its knock-in level, expected to be 70% of its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
The notes are expected to price on June 22 and settle on June 29.
The Cusip number is 22550WW29.
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