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Credit Suisse eyes Bares due 2020 with 17.25% cap tied to fund basket
By Devika Patel
Knoxville, Tenn., July 3 – Credit Suisse AG, London Branch plans to price 0% Buffered Accelerated Return Equity Securities due March 11, 2020 linked to a basket of two exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the iShares MSCI Emerging Markets ETF with a weight of 40% and the iShares MSCI EAFE ETF with a weight of 60%.
The payout at maturity will be par plus 150% of any basket gain, up to an underlying return cap of 17.25%.
Investors will receive par if the basket falls by up to 15% and lose 1% for each 1% decline beyond the 15% buffer.
Credit Suisse Securities (USA) LLC is the underwriter.
The notes (Cusip: 22550BUJ0) will price on July 6 and settle July 11.
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