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Credit Suisse plans to price Bares tied to basket of nine stocks
By Sarah Lizee
Olympia, Wash., July 9 – Credit Suisse AG, London Branch plans to price 0% Buffered Accelerated Return Equity Securities due Jan. 26, 2021 tied to an equally weighted basket of nine stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Halliburton Co., Patterson-UTI Energy, Inc., Marathon Petroleum Corp., Plains GP Holdings, LP, Whiting Petroleum Corp., EOG Resources, Inc., Oasis Petroleum Inc., Continental Resources, Inc. and Diamondback Energy Inc.
If the basket return is zero or positive, the payout at maturity will be par plus 150% of the basket return, up to a maximum payout of par plus 30%. Investors will receive par if the basket falls by up to 15% and lose 1% for every 1% decline in the basket beyond 15%.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes will price on July 19.
The Cusip number is 22552FN99.
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