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Credit Suisse plans trigger absolute return step notes tied to S&P
By Susanna Moon
Chicago, Jan. 10 – Credit Suisse AG, London Branch plans to price 0% trigger absolute return step securities due Jan. 31, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index level finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the gain and the step return of 40% to 44%.
If the index falls by up to its 75% downside threshold, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for each 1% decline.
UBS Financial Services Inc. is distributor.
The notes will price on Jan. 28.
The Cusip number is 22549Y487.
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