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Credit Suisse plans to price CS notes due 2021 linked to S&P 500
By Sarah Lizee
Olympia, Wash., Oct. 8 – Credit Suisse AG, London Branch plans to price 0% CS notes due April 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the index closes above the upper barrier, expected to be between 120% and 122% of the initial level, or below the lower barrier, expected to be between 78% and 80% of the initial level, during the life of the notes. The exact barriers will be set at pricing.
If a barrier event occurs, the payout at maturity will be par plus 3%.
If no barrier event occurs, the payout will be par plus the absolute value of the index return, capped at $1,200 to $1,220 per $1,000 of notes.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Oct. 26.
The Cusip number is 22551LDT4.
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