Credit Suisse tweaks coupon, barrier levels for notes tied to Russell

By Toni Weeks

San Luis Obispo, Calif., Jan. 6 - Credit Suisse AG adjusted the interest rate and barrier and knock-in levels for its upcoming offering of contingent coupon yield notes due Jan. 31, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6.5% to 7% if the index closes at or above its barrier level on the observation date for that quarter. The coupon was previously estimated at 7.25% to 7.75% and will be set at pricing. The barrier level is now expected to be 70% of the initial index level, lowered from 80%.

The payout at maturity will be par unless the index finishes at or below the 70% knock-in level, down from 80%, in which case the payout will be par plus the return.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price Jan. 24 and settle Jan. 31.

The Cusip number is 22547QFL5.

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