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Credit Suisse plans accelerated barrier notes linked to Russell, Dow
By Angela McDaniels
Tacoma, Wash., May 22 – Credit Suisse AG, London Branch plans to price 0% accelerated barrier notes due May 31, 2022 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the lesser-performing index is greater than or equal to its initial level, the payout at maturity will be par plus 140% to 150% of the return of that index. The exact upside participation rate will be set at pricing.
If the lesser-performing index finishes below its initial level and a knock-in event does not occur, the payout will be par. A knock-in event occurs if either index finishes at or below its knock-in level, 70% of its initial level.
If the lesser-performing index finishes below its initial level and a knock-in event occurs, investors will be fully exposed to the decline of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price May 25.
The Cusip number is 22550B3E1.
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