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Credit Suisse to price daily range accrual notes linked to indexes
By Angela McDaniels
Tacoma, Wash., April 2 – Credit Suisse AG plans to price callable daily range accrual securities due April 30, 2025 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is expected to be 8% per year multiplied by the proportion of days on which each index closes at or above its accrual barrier, 60% of its initial index level. Interest will be payable quarterly.
The payout at maturity will be par unless either index finishes below its accrual barrier, in which case investors will be fully exposed to the decline of the least performing index.
Beginning April 29, 2016, the notes will be callable at par on any interest payment date.
Incapital LLC is the agent.
The notes will price April 27 and settle April 30.
The Cusip number is 22546VB96.
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