Published on 11/2/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.97 million digital barrier notes tied to indexes
By Marisa Wong
Morgantown, W.Va., Nov. 2 – Credit Suisse AG, London Branch priced $2.97 million of 0% digital barrier notes due May 1, 2017 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its knock-in level, 75% of the initial level, the payout at maturity will be par plus the fixed payment of 10.5%.
If either index finishes at or below the knock-in level, investors will be fully exposed to any losses of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Digital barrier notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $2,974,000
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Maturity: | May 1, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return is greater than negative 25%, par plus 10.5%; full exposure to losses of worse performing index if either index falls by 25% or more
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Initial levels: | 2,075.15 for S&P, 1,166.058 for Russell
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Barrier levels: | 1,556.3625 for S&P, 874.5435 for Russell; 75% of initial levels
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Pricing date: | Oct. 23
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Settlement date: | Oct. 30
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 1.95%
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Cusip: | 22546VMU7
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