Published on 7/26/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.73 million digital barrier notes on S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, July 26 – Credit Suisse AG, London Branch priced $1.73 million of 0% digital barrier notes due Jan. 29, 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 underlying 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 of 11%.
If a knock-in event occurs, investors will lose 1% for each 1% loss 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: | $1,725,000
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Maturity: | Jan. 29, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If either index finishes at or below its knock-in level, par plus return of lesser-performing index; otherwise, par plus 11%
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Initial levels: | 2,175.03 for S&P, 1,212.889 for Russell
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Knock-in levels: | 1,631.2725 for S&P, 909.66675 for Russell, 75% of initial levels
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Pricing date: | July 22
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Settlement date: | July 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.95%
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Cusip: | 22548QC29
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