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Credit Suisse plans absolute return barrier notes linked to the Dow
By Toni Weeks
San Luis Obispo, Calif., Dec. 30 – Credit Suisse AG plans to price 0% absolute return barrier securities due Feb. 1, 2021 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if the index finishes at or below the 70% knock-in level.
The payout at maturity will be par plus 125% to 130% of any gain in the index.
If the index falls but a knock-in event has not occurred, the payout will be par plus the absolute value of the return, subject to a maximum redemption amount that is expected to be $1,299.99 per $1,000 principal amount.
Otherwise, investors will be fully exposed to any losses.
The exact terms will be set at pricing.
The notes (Cusip: 22547QXT8) are expected to price Jan. 23 and settle Jan. 30.
Credit Suisse Securities (USA) LLC is the agent.
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