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Credit Suisse plans contingent coupon buffered notes tied to S&P 500
By Susanna Moon
Chicago, April 22 – Credit Suisse AG, London Branch plans to price contingent coupon buffered accelerated return equity securities due May 3, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.25% to 5.75% if the index closes at or above its barrier level, 85% of its initial level, on the observation date for that quarter. The exact contingent coupon will be set at pricing.
A knock-in event will occur if the index closes below its 85% knock-in level on any trading day during the life of the notes.
The payout at maturity will be par unless the a knock-in event occurs, in which case investors will lose 1.1765% for each 1% decline beyond 15%.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on April 27 and settle on May 2.
The Cusip number is 22548Q4N2.
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