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Credit Suisse plans to price trigger step securities linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Oct. 18 – Credit Suisse AG, London Branch plans to price 0% trigger step securities due Oct. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the step return and the index return. The step return is expected to be 36% to 40% and will be set at pricing. Investors will receive par if the index declines by 25% or less and will be exposed to the index’s decline from its initial level if it declines beyond 25%.
UBS Financial Services Inc. is acting as distributor.
The notes will price Oct. 26.
The Cusip number is 22548T349.
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