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Credit Suisse plans callable daily range accrual notes tied to Russell
By Marisa Wong
Madison, Wis., Sept. 5 - Credit Suisse AG plans to price callable daily range accrual securities due June 28, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 6.8% for each day that the index closes at or above the 80% barrier level. Interest is payable monthly. The exact rate and barrier level will be set at pricing.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will be exposed to any losses beyond 20%.
The notes will be callable at par on any interest payment date beginning Sept. 30, 2014.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Sept. 25 and settle on Sept. 30.
The Cusip number is 22547QB21.
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