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Credit Suisse plans to price three-year Bares linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., Oct. 18 – Credit Suisse AG, London Branch plans to price 0% Buffered Accelerated Return Equity Securities due Oct. 28, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the upside participation rate, which is expected to be 200%, multiplied by the index return, subject to a maximum return that is expected to be 30%. The exact terms will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for each 1% that it may decline beyond 10%.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price Oct. 21.
The Cusip number is 22548QLE3.
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