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Credit Suisse plans to issue buffered accelerated return notes on S&P
By Emma Trincal
New York, Nov. 1 – Credit Suisse AG, London Branch plans to issue 0% buffered accelerated return equity securities due Nov. 4, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is flat or positive, the payout at maturity will be par plus 300% of the index return, up to a maximum return expected to be between 36% and 40%.
Investors will receive par if the index falls by 10% or less and will lose 1% for every 1% decline beyond 10%.
The exact participation rate, maximum return and buffer amount were to be set at pricing.
Credit Suisse Securities (USA) LLC is the agent.
The notes were expected to price on Oct. 31 and to settle on Nov. 3.
The Cusip number is 22553QNL7.
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