Credit Suisse plans 12%-13% contingent coupon callable notes on ETFs

By Marisa Wong

Morgantown, W.Va., Sept. 20 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due Sept. 29, 2020 linked to the SPDR S&P Biotech exchange-traded fund and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

If each fund closes at or above its 70% coupon barrier on a semiannual observation date, the notes will pay a contingent coupon for that semiannual period at an annual rate of 12% to 13%.

The notes are callable on any contingent coupon payment date.

The payout at maturity will be par unless either fund finishes below its 70% knock-in level, in which case investors will be fully exposed to the decline of the worse performing fund.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on Sept. 22.

The Cusip number is 22550BFY4.

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