Credit Suisse to price contingent coupon callable yield notes linked to S&P, Biotech ETF

By Wendy Van Sickle

Columbus, Ohio, Dec. 23 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Dec. 30, 2019 linked to the S&P 500 index and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.7% if each underlier closes above its 50% coupon barrier level on the observation date for that quarter.

The notes are callable in whole but not in part at par on any coupon payment date beginning on June 30, 2017.

The payout at maturity will be par unless either underlier finishes below its 50% knock-in level, in which case investors will be fully exposed to the losses of the worse performing underlier.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Dec. 27 and settle on Dec. 30.

The Cusip number is 22548QR98.

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