Credit Suisse plans barrier absolute return market notes tied to S&P

By Susanna Moon

Chicago, June 13 – Credit Suisse AG, London Branch plans to price 0% barrier absolute return market-linked notes with daily barrier observation due Dec. 31, 2019 to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

A barrier event occurs if the index is above the upper barrier of between 117% and 118% of the initial level or below the lower barrier, which will be the initial level minus between 17% and 18% of the initial level on any day during the life of the notes.

If a barrier event occurs, the payout at maturity will be par plus a conditional return of 1.5%.

Otherwise, the payout will be par plus the absolute value of the index return.

The maximum payment will be between $1,170 and $1,190 per $1,000 principal amount.

Credit Suisse Securities (USA) LLC and UBS Financial Services Inc. are the agents.

The notes will price on June 26 and settle on June 29.

The Cusip number is 22550WXB8.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.