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Credit Suisse plans issue of 0% ARES linked to S&P 500 index
By Laura Lutz
Des Moines, Dec. 5 - Credit Suisse, Nassau branch plans to price an issue of 0% Accelerated Return Equity Securities (ARES) due March 27, 2008 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to price in December and settle on Dec. 27.
If the final index level is at least the initial level, the payout at maturity will be equal to par plus 200% of any gain on the index, capped at a maximum payout equal to 105.25% of par.
Otherwise, the payout will be par times the index performance.
Credit Suisse Securities (USA) LLC will be the underwriter.
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