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Credit Suisse plans accelerated barrier notes on S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., Sept. 26 – Credit Suisse AG plans to price 0% accelerated barrier notes due Nov. 5, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least-performing index finishes at or above its initial level, the payout at maturity will be par plus 160% to 165% of the return of the least-performing index. The exact participation rate will be set at pricing.
If the least-performing index finishes below its initial level and a knock-in event does not occur, the payout will be par. A knock-in event occurs if either index finishes at or below its knock-in level, 70% of its initial level.
If the least-performing index finishes below its initial level and a knock-in event occurs, investors will be fully exposed to the decline of the least-performing index.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes are expected to price Oct. 31 and settle Nov. 5.
The Cusip number is 22547QU53.
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