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Credit Suisse plans daily range accrual notes linked to Russell 2000
By Susanna Moon
Chicago, Aug. 4 – Credit Suisse AG plans to price callable daily range accrual securities due Feb. 28, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annual rate of 7.25% for each day that the index closes at or above its barrier level, 80% of its initial index level. Interest will be payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will be exposed to any losses beyond 20%.
The notes will be callable at par on any interest payment date beginning Aug. 31, 2016.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Aug. 26 and settle on Aug. 31.
The Cusip number is 22546VHD1.
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