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Credit Suisse plans callable daily range accrual notes tied to Russell
By Susanna Moon
Chicago, Aug. 16 – Credit Suisse AG, London Branch plans to price callable daily range accrual securities due Feb. 28, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 6% for each day that the index closes at or above the barrier, 80% of the initial index level. Interest will be payable monthly.
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% drop beyond 20%.
The notes are callable at par on any interest payment date after one year.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Aug. 28 and settle on Aug. 31.
The Cusip number is 22550BEY5.
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