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Credit Suisse plans absolute return barrier notes linked to S&P 500
By Susanna Moon
Chicago, July 15 – Credit Suisse AG, London Branch plans to price 0% absolute return barrier securities due July 22, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus 120% of the gain, subject to a maximum return that is expected to be at least 60% and will be set at pricing.
If the index falls but finishes at or above the 65% knock-in level, the payout will be par plus the absolute value of the return up to a maximum redemption amount of $1,349.99 per $1,000 principal amount.
Otherwise, investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on July 17 and settle on July 24.
The Cusip number is 22546VHF6.
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