Credit Suisse to price contingent coupon notes on two SPDR S&P ETFs

By Marisa Wong

Los Angeles, Feb. 19 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Feb. 24, 2023 linked to the least performing of the SPDR S&P 500 ETF trust and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 10% if each underlying asset closes at or above its coupon barrier, 60% of its initial value, on the related quarterly observation date.

Credit Suisse 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 any asset finishes below its 60% knock-in level, in which case investors will receive a number of shares of the least-performing asset equal to $1,000 divided by the initial value of that asset or, at the issuer’s option, the cash equivalent.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Feb. 20.

The Cusip number is 22550MAX7.

© 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.