Credit Suisse plans contingent coupon callable yield notes on Russell, Stoxx

By Sarah Lizee

Olympia, Wash., April 4 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due April 29, 2022 linked to the lowest performing of the Russell 2000 index and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annualized rate of 10% if each index closes above its coupon barrier level, expected to be 65% of its initial level, on the observation date for that period.

At Credit Suisse’s option, the notes are callable in whole at par on any coupon payment date starting July 30 and before maturity.

The payout at maturity will be par unless either index finishes below its knock-in level, expected to be 65% 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 April 25.

The Cusip number is 22552F7A4.

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