Published on 7/5/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.17 million digital barrier notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, July 5 – Credit Suisse AG, London Branch priced $2.17 million of 0% digital barrier notes due July 31, 2020 tied to the lowest performing of 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, on any trading day during the life of the notes.
If a knock-in event does not occur, the payout at maturity will be par plus the fixed payment percentage of 9.5%.
If a knock-in event does occur, investors will lose 1% for each 1% decline of the lowest performing index, capped at par.
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: | $2,173,000
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Maturity: | July 31, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If neither index finishes below knock-in level during life of notes, par plus 9.5%; otherwise 1% loss for each 1% decline in lowest performing index, capped at par
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Initial levels: | 2,941.76 for S&P, 1,566.572 for Russell
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Knock-in levels: | 2,206.32 for S&P, 1174.929 for Russell; 75% of initial levels
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Pricing date: | June 28
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Settlement date: | July 3
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Agents: | Credit Suisse Securities (USA) LLC
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Fees: | 0.68%
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Cusip: | 22552FG63
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