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Credit Suisse plans high/low coupon buffered notes linked to Russell
By Angela McDaniels
Tacoma, Wash., June 28 - Credit Suisse AG, Nassau Branch plans to price high/low coupon buffered securities due July 31, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A coupon barrier event occurs if the index's closing level is less than the coupon barrier level on any of five annual observation dates. The coupon barrier level is expected to be about 100% of the initial index level.
If a coupon barrier event does not occur for an annual interest period, the corresponding interest rate for that interest period is expected to be 5.5% to 6.5% per year, with the exact amount to be set at pricing. Otherwise, it will be 2%.
If the final index level is at least 80% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes are expected to price July 29 and settle July 31.
The Cusip number is 22547Q4W3.
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