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Credit Suisse plans Accelerated Return Notes on three financial stocks
By Marisa Wong
Madison, Wis., July 22 – Credit Suisse AG plans to price 0% Accelerated Return Notes due September 2016 linked to a basket of three equally weighted financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co.
The payout at maturity will be par plus 300% of any basket gain, capped at 11% to 15%. The exact cap will be set at pricing.
Investors will be exposed to any losses.
The notes will price in July and settle in August.
BofA Merrill Lynch is the agent.
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