Published on 3/31/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.04 million digital plus barrier notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 31 – Credit Suisse AG, London Branch priced $1.04 million of 0% digital plus barrier notes due April 1, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the index gain and a fixed payment of 45%.
Investors will receive par if the index falls by up to 30% and will be fully exposed to any losses if the index finishes at or below the 70% knock-in level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Digital plus barrier notes
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Underlying index: | S&P 500
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Amount: | $1,038,000
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Maturity: | April 1, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is at least zero, par plus greater of index return and 45%; par if index falls by up to 30%; full exposure to losses if index falls below knock-in level
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Initial level: | 2,037.05
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Knock-in level: | 1,425.935, 70% of initial level
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 4.6%
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Cusip: | 22546VXP6
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