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Credit Suisse plans digital payment notes linked to Russell 2000
By Marisa Wong
Madison, Wis., Oct. 1 - Credit Suisse AG, Nassau Branch plans to price 0% digital payment securities due May 1, 2014 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the knock-in level, the payout at maturity will be par plus the fixed payment percentage. If the final level is less than the knock-in level, investors will lose 1% for every 1% decline from the initial index level.
The knock-in level is expected to be 80% of the initial level, and the fixed payment percentage is expected to be 13% to 15%. Both will be set at pricing.
The notes are expected to price Oct. 26 and settle Oct. 31.
Credit Suisse Securities (USA) LLC is the underwriter.
The Cusip number is 22546TZZ7.
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