Credit Suisse plans annual coupon CS notes due 2017 tied to 10 stocks

By Marisa Wong

Madison, Wis., July 5 - Credit Suisse AG, Nassau Branch plans to price annual coupon CS notes due July 20, 2017 linked to an equally weighted basket of 10 stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying companies are Altria Group, Inc., Amazon.com, Inc., Archer-Daniels-Midland Co., Avon Products, Inc., Charles Schwab Corp., Eli Lilly and Co., Intel Corp., Vale SA, Valero Energy Corp. and Verizon Communications Inc.

The coupon will be the sum of the component returns of each basket stock on the valuation date immediately preceding the coupon payment date, subject to a floor of 0.5%. Interest is payable annually.

A basket component's return on any valuation day is equal to a fixed percentage of 5% if its underlying stock return is zero or positive. Otherwise, the component return will equal the greater of the underlying stock return and negative 30%.

The payout at maturity will be par.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22546TVE8) will price on July 17 and settle on July 20.

© 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.