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Credit Suisse plans absolute return barrier notes linked to S&P 500
By Susanna Moon
Chicago, Aug. 2 – Credit Suisse AG, London Branch plans to price absolute return barrier securities due Aug. 26, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par plus 150% of the index gain, up to an underlying return cap of 31.5% to 36.5%. The exact cap will be set at pricing.
If the index falls but each index finishes above its 80% knock-in level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Aug. 19 and settle on Aug. 26.
The Cusip number is 22548QDK8.
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