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Credit Suisse plans three-year Bares with 22% cap linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Jan. 20 – Credit Suisse AG, London Branch plans to price 0% Buffered Accelerated Return Equity Securities due Jan. 28, 2020 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the gain, subject to a maximum return of 22%. Investors will receive par if the index falls by up to 30% and lose 1% for every 1% decline in the index beyond 30%.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price on Jan. 23.
The Cusip number is 22548QTA3.
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