Published on 6/26/2012 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.17 million digital-plus barrier notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., June 26 - Credit Suisse AG, Nassau Branch priced $2.17 million of 0% digital-plus barrier notes due June 29, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus the greater of the index return and 39%.
If the final index level is more than 70% of the initial index level but is less than the initial level, the payout will be par. Investors will be fully exposed to the index decline from the initial level if the final index level is 70% or less of the initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Digital-plus barrier notes
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Underlying index: | S&P 500
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Amount: | $2,166,000
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Maturity: | June 29, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to initial level, par plus greater of index return and 39%; if index falls by up to 30%, par; if index falls by 30% or more, full exposure to decline
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Initial index level: | 1,335.02
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Knock-in level: | 934.514, 70% of initial level
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Pricing date: | June 22
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Settlement date: | June 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.75%
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Cusip: | 22546TUB5
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