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Credit Suisse plans contingent coupon callable yield notes on indexes
By Angela McDaniels
Tacoma, Wash., May 14 – Credit Suisse AG plans to price contingent coupon callable yield notes due May 22, 2017 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at a rate that is expected to be 12.75% per year unless any index closes below its coupon barrier level, 75% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its knock-in level, 75% of its initial level, in which case investors will be fully exposed to the decline of the least-performing index.
The notes will be callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price May 15 and settle May 22.
The Cusip number is 22546VDM5.
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