Credit Suisse plans contingent coupon autocallables on Russell, S&P

By Wendy Van Sickle

Columbus, Ohio, Feb. 29 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due March 31, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annualized rate of 8% to 8.5% if each index closes above its barrier level, expected to be about 70% of its initial level, on the observation date for that quarter. The exact coupon and barrier will be set at pricing.

The notes will be called at par if each index closes above its initial level on any observation date after one year.

The payout at maturity will be par unless either of the indexes finishes below its barrier, in which case investors will be exposed to the decline of the worst-performing index.

The notes will price March 28 and settle March 31.

Credit Suisse Securities (USA) LLC is the agent.

The Cusip number is 22546VY67.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.