Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
Credit Suisse plans callable daily range accrual notes tied to S&P 500
By Tali Rackner
Norfolk, Va., March 22 – Credit Suisse AG, London Branch plans to price callable daily range accrual securities due Sept. 30, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is expected to be 5.35% per year multiplied by the proportion of days on which the index closes at or above the accrual barrier, which is expected to be 75% of the initial index level. Interest will be payable monthly.
The payout at maturity will be par unless the index falls by more than 25%, in which case investors will lose 1% for every 1% that the index declines beyond 25%.
Beginning March 30, 2018, the notes will be callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on March 28 and settle on March 31.
The Cusip number is 22548QX75.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.