Published on 3/28/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.37 million digital barrier notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, March 28 – Credit Suisse AG, London Branch priced $2.37 million of 0% digital barrier notes due Oct. 1, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either index finishes below its knock-in level, 75% of its initial level.
If a knock-in event does not occur, the payout at maturity will be par plus the 9% fixed payment.
If a knock-in event does occur, investors will be exposed to the decline of the lesser-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: | $2,368,000
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Maturity: | Oct. 1, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 9% unless either index finishes below its knock-in level, in which case investors will share fully in the decline of the worse performing index
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Initial levels: | 2,343.98 for S&P, 1,354.642 for Russell
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Knock-in levels: | 1,757.985 for S&P, 1,015.9815 for Russell; 75% of initial levels
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Pricing date: | March 24
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Settlement date: | March 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.95%
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Cusip: | 22548QWT8
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