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Credit Suisse plans buffered return equity securities tied to S&P 500
By Marisa Wong
Madison, Wis., June 3 – Credit Suisse AG plans to price 0% buffered return equity securities due Dec. 31, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the underlying return.
If the final index level is greater than the threshold value, the underlying return will equal the averaging return. Otherwise, the underlying return will be the final index return plus the buffer amount plus the averaging return.
The averaging return will be based on the average of the index closing levels on the quarterly observation dates beginning March 27, 2017 and ending Dec. 26, 2018.
The threshold value is expected to be 80% of the initial level, and the buffer amount is expected to be 20%.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on June 25 and settle on June 30.
The Cusip number is 22546VEA0.
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