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Credit Suisse to price market-linked step-up notes on S&P 500 index
By Jennifer Chiou
New York, Sept. 25 – Credit Suisse AG plans to price market-linked step-up notes due October 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the step-up value – 110% to 116% of the initial level – the payout at maturity will be par plus the index gain.
If the index 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 10% to 16%.
Investors will share in any losses.
The exact deal terms will be set at pricing.
The notes will price in October and settle in November.
BofA Merrill Lynch is the agent.
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