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Credit Suisse plans airbag return optimization notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 25 – Credit Suisse AG, London Branch plans to price 0% airbag return optimization securities due Jan. 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index's return is positive, the payout at maturity will be par plus 150% of the index's return, subject to a maximum return that is expected to be 32% to 33% and will be set at pricing.
If the index's return is zero or negative but the index does not decline by more than 20%, the payout will be par.
If the index declines by more than 20%, investors will lose 1.25% for every 1% that it declines beyond 20%.
UBS Financial Services Inc. will act as distributor.
The notes are expected to price Jan. 26.
The Cusip number is 22548J481.
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