Credit Suisse plans contingent coupon callable yield notes on S&P 500, Biotech ETF

New York, July 21 – Credit Suisse AG, London Branch, plans to price contingent coupon callable yield notes due July 31, 2020 linked to the lesser performing of 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 expected annualized rate of 6.6% if each underlier closes above its coupon barrier level, 50% of its initial level, on the observation date for that quarter.

Starting Jan. 31, 2018, the issue may call the notes in whole but not in part at par on any quarterly call date.

The payout at maturity will be par unless either of the underliers finishes below its knock-in level, 50% of its initial level, in which case investors will lose 1% for each 1% decline of the worse performing underlier from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on July 26 and settle on July 31.

The Cusip is 22550BDJ9.

© 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.