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Credit Suisse to price 0% Bares linked to index basket
By Angela McDaniels
Seattle, March 8 - Credit Suisse (USA), Inc. plans to price an offering of 0% Buffered Accelerated Return Equity Securities (Bares) due March 31, 2011 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket will include the S&P 500 index with a 70% weight, Russell 2000 index with a 10% weight, Dow Jones Euro Stoxx 50 index with an 8% weight, FTSE 100 index with a 5% weight, Nikkei 225 index with a 5% weight and the S&P/ASX 200 index with a 2% weight.
The payout at maturity will be par plus any percentage increase in the basket level multiplied by the participation rate, which is expected to be between 112% and 116% and will be determined at pricing.
Investors will receive par if the basket level declines by 20% or less and will lose 1% for each 1% decline beyond 20%.
The notes will price and settle sometime in March.
Credit Suisse Securities (USA) LLC will be the underwriter.
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