Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Russell 2000 index > News item |
Credit Suisse plans high/low coupon callable notes tied to two indexes
By Susanna Moon
Chicago, Oct. 8 – Credit Suisse AG plans to price high/low coupon callable yield notes due May 5, 2016 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either underlying component ever closes at or below its knock-in level during any observation period. The knock-in level will be 67% to 71% of the initial level, with the exact percentage to be set at pricing.
The coupon will be 8% unless a knock-in event occurs, in which case the coupon will be 1% annualized for that and each subsequent interest period. Interest will be payable quarterly.
The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the worse performing component, up to a maximum payout of par.
The notes are callable at par on any interest payment date beginning Feb. 5, 2015.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price on Oct. 31 and settle on Nov. 5.
The Cusip number is 22547QUM6.
© 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.