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Credit Suisse plans absolute return barrier notes on SPDR S&P Biotech
By Susanna Moon
Chicago, Oct. 10 – Credit Suisse AG, London Branch plans to price 0% absolute return barrier securities due Oct. 16, 2023 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par plus 116.8% of the gain.
If the index falls by up to its 80% knock-in level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Oct. 11.
The Cusip number is 22551LEY2.
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