Credit Suisse plans callable range accrual notes on Libor, S&P 500

By Marisa Wong

Madison, Wis., Oct. 27 – Credit Suisse AG plans to price six-month Libor and S&P 500 index range accrual notes due Nov. 19, 2029, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at 6% per year multiplied by the proportion of days on which six-month Libor is between 0% and 5% and the closing index level is greater than the reference level, which is expected to be 75% of the initial level. Interest, if any, will be payable quarterly.

The payout at maturity will be par plus accrued interest, if any.

The notes are callable in whole at par on any interest payment date beginning Nov. 19, 2015.

Morgan Stanley & Co. LLC is the distributor.

The notes will price on Nov. 14 and settle on Nov. 19.

The Cusip number is 22547QVH6.

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