Credit Suisse plans contingent coupon callable notes on indexes, ETF

By Marisa Wong

Madison, Wis., Oct. 15 - Credit Suisse AG plans to price contingent coupon callable yield notes due Oct. 23, 2017 linked to the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If each component closes at or above its coupon barrier level, 60% of its initial level, on a quarterly observation date, the notes will pay a coupon that quarter at a rate of 8.1% per year.

The payout at maturity will be par unless any component's final level is less than its knock-in level, 60% of its initial level, in which case investors will receive par plus the return of the lowest-performing component.

Beginning Jan. 21, 2014, the notes will be callable at par on any interest payment date.

Credit Suisse Securities (USA) LLC is the underwriter.

The notes are expected to price Oct. 16 and settle Oct. 21.

The Cusip number is 22547QCH7.

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