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Credit Suisse plans market-linked step-up notes tied to index basket
By Marisa Wong
Madison, Wis., April 15 - Credit Suisse AG plans to price market-linked step-up notes due April 2018 linked to a basket of two equally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying components are the S&P 500 index and the Euro Stoxx 50 index.
If the basket finishes above the step-up value - 119% to 125% of the initial level - the payout at maturity will be par plus the basket gain.
If the basket finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 19% to 25%.
If the basket falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline beyond 10%.
The exact terms will be set at pricing.
The notes will price in April and settle in May.
BofA Merrill Lynch is the agent.
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