| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers F > Headlines for FTSE 100 index > News item |
Credit Suisse to price notes linked to buffered return enhanced indexes, related currencies
By Angela McDaniels
Tacoma, Wash., Nov. 15 - Credit Suisse AG, Nassau Branch plans to price 0% notes due Dec. 7, 2011 linked to a basket of three buffered return enhanced components and their related currencies, according to an FWP filing with the Securities and Exchange Commission.
The components are the Euro Stoxx 50 index with a 51% weight, the FTSE 100 index with a 25% weight and the Topix index with a 24% weight. Their related currencies are the euro, pound sterling and Japanese yen, respectively.
The payout at maturity will be par plus the basket return, which will equal the sum of the weighted component returns for the basket indexes.
For each index, the issuer will multiply its return by the return of the applicable currency relative to the dollar. This will be the underlying return for that index.
If an index's underlying return is positive, its component return will be double the underlying return, subject to a cap. If an index's underlying return is less than or equal to zero but not less than negative 10%, its component return will be zero. If an index's underlying return is less than negative 10%, its component return will be 0% minus 1.11111% for every 1% that the underlying return is less than negative 10%.
The cap will be at least 17.75% for the Euro Stoxx 50, at least 15.45% for the FTSE 100 and at least 15.4% for the Topix. If the caps were set at their respective minimums, the maximum payout at maturity would be $1,166.11 per $1,000 principal amount of notes.
The notes (Cusip 22546EJ21) are expected to price Nov. 19 and settle Nov. 24.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.