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Credit Suisse plans 1% buffered return equity notes tied to 26 stocks
By Angela McDaniels
Tacoma, Wash., June 5 - Credit Suisse AG, Nassau Branch plans to price buffered return equity securities due Dec. 31, 2014 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to carry a 1% coupon. The exact interest rate will be set at pricing. Interest will be payable semiannually.
The basket includes Altria Group, Inc. (5.8010% weight), Garmin Ltd. (5.5025% weight), ConocoPhillips (5.5025% weight), Kimberly-Clark Corp. (5.5025% weight), CA, Inc. (5.5025% weight), Eli Lilly and Co. (5.2139% weight), PG&E Corp. (5.0647% weight), Chevron Corp. (5.0050% weight), Thomson Reuters Corp. (5.0050% weight), Freeport-McMoRan Copper & Gold Inc. (4.4975% weight), Merck & Co., Inc. (4.2388% weight), Johnson & Johnson (4% weight), Abbott Laboratories (3.9005% weight), Lorillard, Inc. (3.5025% weight), General Electric Co. (3.0149% weight), Hasbro, Inc. (3.005% weight), Mattel, Inc. (3.005% weight), Genuine Parts Co. (2.7463% weight), Sysco Corp. (2.5174% weight), Intel Corp. (2.5174% weight), ConAgra Foods, Inc. (2.4975% weight), Eaton Corp. (2.4975% weight), Emerson Electric Co. (2.4975% weight), Microsoft Corp. (2.4876% weight), PPL Corp. (2.4876% weight) and Bemis Co., Inc. (2.4876% weight).
If the final basket level is greater than the initial basket level, the payout at maturity will be par plus the lesser of the basket return and the maximum return. Investors will receive par if the basket declines by the buffer amount or less and will lose 1% for every 1% that it declines beyond the buffer amount.
The maximum return is expected to be 30%, and the buffer amount is expected to be 10%.
The notes (Cusip: 22546TUN9) are expected to price June 26 and settle June 29.
Credit Suisse Securities (USA) LLC is the underwriter.
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