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Credit Suisse plans four-year trigger step securities tied to S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 21 – Credit Suisse AG, London Branch plans to price 0% trigger step securities due Aug. 31, 2021 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 28% to 32% 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 on Aug. 28.
The Cusip number is 22549C667.
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