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Credit Suisse plans dual directional buffered notes linked to S&P 500
By Jennifer Chiou
New York, March 4 – Credit Suisse AG plans to price 0% dual directional buffered return enhanced notes due Sept. 14, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the gain, capped at 14.1%.
If the index falls by up to 14.1%, the payment at maturity will be par plus the absolute value of the return.
Investors will be fully exposed to the index decline from the initial level if it falls by more than 14.1%.
The final index level will be the average of the closing index levels on the five trading days ending Sept. 9, 2016.
The notes (Cusip: 22546V6S0) will price on March 6 and settle on March 11.
J.P. Morgan Securities Inc. and JPMorgan Chase Bank, NA are the placement agents.
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