Credit Suisse plans income notes due 2020 linked to basket of 20 stocks

By Susanna Moon

Chicago, Aug. 18 – Credit Suisse AG plans to price income notes due August 2020 linked to a basket of 20 common stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying companies are AbbVie Inc., BHP Billiton Ltd., Comcast Corp., Eaton Corp. plc, Exxon Mobil Corp., Ford Motor Co., Facebook, Inc., FireEye, Inc., Helmerich & Payne, Inc., JPMorgan Chase & Co., Kraft Foods Group, Inc., McDonald’s Corp., Och-Ziff Capital Management Group LLC, Philip Morris International Inc., PPL Corp., Sempra Energy, SunEdison, Inc., Texas Instruments Inc., Under Armour, Inc. and Verizon Communications Inc.

Interest will be at least 1% per year. If, however, at least 14 of the 20 basket stocks have not fallen from the pricing date as measured on a coupon determination date, the notes will pay interest at a maximum rate of 5.5% to 6.5% per year. The exact maximum rate will be set at pricing.

The payout at maturity will be par plus the final coupon.

BofA Merrill Lynch is the agent.

The notes will price in August and settle in September.

© 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.