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Credit Suisse plans dual directional buffered notes tied to Russell
By Sarah Lizee
Olympia, Wash., April 29 – Credit Suisse AG, London Branch plans to price 0% dual directional buffered participation notes due Dec. 3, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, subject to a maximum return that is expected to be 11.7% and will be set at pricing. If the final index level is less than the initial index level but the index declines by no more than 10%, the payout will be par plus the absolute value of the index return. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.
The notes will price May 15.
The Cusip number is 22550F344.
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