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Credit Suisse plans six-year Cert PLUS securities on S&P 500 index
By Marisa Wong
Madison, Wis., April 27 - Credit Suisse AG, Nassau Branch plans to price 0% Cert PLUS securities due May 8, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus 130% to 140% of the index gain.
A knock-in event will occur if the index falls to or below 40% of the initial level during the life of the securities.
If the index finishes below the initial level and a knock-in event has occurred, the payout at maturity will be par plus the index return. Otherwise, the payout will be par.
The securities (Cusip: 22546E3P7) are expected to price on May 3 and settle on May 6.
Credit Suisse Securities (USA) LLC is the underwriter.
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