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Credit Suisse plans annual reset coupon buffered notes tied to Russell
By Marisa Wong
Madison, Wis., Sept. 2 – Credit Suisse AG plans to price annual reset coupon buffered notes due Sept. 30, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable annually and will equal the maximum digital percentage if the index’s return for that year is positive or zero. Otherwise, the coupon will equal the minimum digital percentage. The index’s return will be measured from its level a year earlier.
The maximum digital percentage is expected to be 5% to 5.5%. The minimum digital percentage is expected to be 1.75% to 2.25%. Both 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 lose 1% for every 1% decline beyond 20%.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price on Sept. 26 and settle on Sept. 30.
The Cusip number is 22547QSY3.
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