Published on 4/28/2009 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $11.9 million buffered return enhanced notes on S&P 500
By Susanna Moon
Chicago, April 28 - Credit Suisse, Nassau Branch priced $11.9 million of 0% buffered return enhanced notes due May 6, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. and JPMorgan Chase Bank, NA are the agents.
The payout at maturity will be par plus triple any index gain, up to a maximum return of 22.8%.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
Issuer: | Credit Suisse, Nassau Branch
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Issue: | Buffered return enhanced notes
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Underlying index: | S&P 500
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Amount: | $11,902,000
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Maturity: | May 6, 2010
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus triple any index gain, capped at 22.8%; par if index falls by 10% or less; 1.1111% loss for every 1% index decline beyond 10%
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Initial index level: | 866.23
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Pricing date: | April 24
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Settlement date: | April 29
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Agents: | J.P. Morgan Securities Inc. and JPMorgan Chase Bank, NA
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Fees: | 1%
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