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Credit Suisse plans contingent coupon callable notes on Russell, S&P
By Susanna Moon
Chicago, Oct. 27 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Nov. 29, 2021 linked to the Russell 2000 index and the S&P 500 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 7.5% if each index closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.
The notes are callable at par on any coupon payment date after one year.
The payout at maturity will be par unless either index finishes below its 60% knock-in level, in which case the payout will be par plus the return of the worse performing index, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Nov. 23 and settle on Nov. 29.
The Cusip number is 22548QLX1.
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