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Credit Suisse plans dual directional buffered notes tied to the Dow
By Sarah Lizee
Olympia, Wash., April 11 – Credit Suisse AG, London Branch plans to price 0% dual directional buffered notes due Nov. 4, 2020 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, subject to a maximum return that is expected to be 10.35% and will be set at pricing. If the final index level is less than the initial index level but the index declines by no more than 10%, the payout will be par plus the absolute value of the index return. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.
The notes will price April 30.
The Cusip number is 22550F252.
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