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Credit Suisse plans Stars linked to S&P 500 index via Merrill Lynch
By Marisa Wong
Madison, Wis., Sept. 24 - Credit Suisse AG plans to price 0% Strategic Accelerated Redemption Securities due October 2014 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
BofA Merrill Lynch is the agent.
If the index closes at or above its initial level on any observation date, the notes will be called at par of $10 plus an annualized call premium of 4% to 8%. The exact call premium will be set at pricing. The call dates will be in April 2014, July 2014 and October 2014.
If the notes are not called, investors will receive par for losses up to 5% and will share fully in any losses beyond 5%.
The notes are expected to price and settle in October.
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