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Credit Suisse plans dual directional digital plus barrier notes on S&P
By Marisa Wong
Morgantown, W.Va., Dec. 2 – Credit Suisse AG, London Branch plans to price 0% dual directional digital plus barrier notes due Dec. 9, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the greater of the index return and the fixed payment percentage, which is expected to be 42%.
If the final index level is less than the initial index level but has not declined by more than 25%, the payout will be par plus the absolute value of the index return.
If the index finishes below the 75% knock-in level, investors will have one-to-exposure to the index’s decline from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Dec. 5.
The Cusip number is 22548QQB4.
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