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Credit Suisse plans absolute return buffered notes on SPDR S&P Oil
By Sarah Lizee
Olympia, Wash., Aug. 14 – Credit Suisse AG, London Branch plans to price 0% absolute return buffered securities due Aug. 26, 2021 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes at or above its initial level, the payout at maturity will be par plus 150% of the return, capped at par plus 42%.
If the fund falls by up to 15%, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for every 1% decline of the fund beyond 15%.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Aug. 23 and settle on Aug. 28.
The Cusip number is 22551L4G2.
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