Credit Suisse is offering to pay SwFr50m (£29.5m) to around 1,700 of its wealthy customers who bought capital-invested products sold by Lehman Brothers.
It is thought Credit Suisse is the first investment bank to offer a comprehensive offer to customers who bought Lehman Brothers products in this way, according to The Times. Individual cash offers will be made to customers over the next few days. To qualify, they would need to have had assets of up to SwFr500,000 invested with Credit Suisse as at the end of August. More than a fifth of this must have been invested in 100% capital protected Lehman products. If accepted, the offer means customers will recover between 50-70% of the nominal value of their investment. The most recent propo...
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