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Credit Suisse plans accelerated barrier notes on Financial Select fund
By Marisa Wong
Morgantown, W.Va., March 21 – Credit Suisse AG, London Branch plans to price 0% accelerated barrier notes due April 1, 2019 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus 200% of the index return, subject to a maximum return that is expected to be 18% to 19%. The exact upside participation rate and cap will be set at pricing.
If the final share price is less than the initial share price but greater than the knock-in level, 70% of the initial share price, the payout will be par.
If the final share price is less than or equal to the knock-in level, investors will be fully exposed to the fund’s decline.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price March 24.
The Cusip number is 22548QWS0.
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