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Credit Suisse plans contingent coupon callable notes on indexes, ETF
By Marisa Wong
Madison, Wis., April 20 – Credit Suisse AG plans to price contingent coupon callable yield notes due April 24, 2018 linked to the Russell 2000 index, S&P 500 index and iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon if each underlying closes at or above its barrier level, 55% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be at least 6% per year and will be set at pricing.
The payout at maturity will be par unless any underlying finishes below its knock-in level, 55% of its initial level, in which case investors will be fully exposed to the decline of the least-performing underlying.
Beginning Oct. 26, 2015, the notes will be callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
The notes are expected to price April 21 and settle April 24.
The Cusip number is 22546VAH9.
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