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Credit Suisse plans absolute return barrier notes linked to Euro Stoxx
By Marisa Wong
Madison, Wis., March 26 - Credit Suisse AG plans to price 0% absolute return barrier securities due April 24, 2020 linked to Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if the index finishes below the 60% knock-in level.
The payout at maturity will be par plus 135% to 140% any gain in the index, with the exact participation rate to be set at pricing.
If the index falls but a knock-in event has not occurred, the payout will be par plus the absolute value of the return, subject to a maximum redemption amount that is expected to be $1,399.99 per $1,000 principal amount.
Otherwise, investors will be fully exposed to any losses.
The exact terms will be set at pricing.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on April 17 and settle on April 28.
The Cusip number is 22547QL95.
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