Published on 2/24/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.01 million digital barrier notes on S&P, Russell
By Tali Rackner
Norfolk, Va., Feb. 24 – Credit Suisse AG, London Branch priced $1.01 million of digital barrier notes due Aug. 28, 2017 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either index finishes at or 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 fixed payment percentage of 12.5%.
If a knock-in event occurs, investors will be fully 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, Russell 2000
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| Amount: | $1.01 million
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| Maturity: | Aug. 28, 2017
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus fixed payment of 12.5% unless either index closes below 75% of its initial level, in which case full exposure to decline of lesser-performing index
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| Initial level: | 1,917.78 for S&P 500, 1,010.011 for Russell 2000
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| Knock-in level: | 1,438.335 for S&P 500, 757.5083 for Russell 2000, 75% of initial levels
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| Pricing date: | Feb. 19
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| Settlement date: | Feb. 26
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| Agents: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.95%
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| Cusip: | 22546VWA0
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