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Credit Suisse ups fixed payment percentage for Bares tied to indexes
By Toni Weeks
San Luis Obispo, Calif., May 1 - Credit Suisse AG, Nassau Branch changed the fixed payment percentage for its offering of 0% Buffered Accelerated Return Equity Securities due June 5, 2017 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the least-performing underlying index is zero or positive, the payout at maturity will now be par plus the greater of the return and a fixed payment percentage of 32.5% to 37.5% that will be set at pricing. Previously the issuer said the fixed payment percentage would be 28% to 32%.
Investors will receive par if the least-performing index falls by up to 15% and will lose 1% for every 1% decline in the index beyond 15%.
The notes (Cusip: 22546T7D7) are expected to price May 31 and settle June 5.
Credit Suisse Securities (USA) LLC is the underwriter.
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