Published on 12/3/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1 million digital notes linked to Honeywell
By Jennifer Chiou
New York, Dec. 3 - Credit Suisse AG, Nassau Branch priced $1 million of 0% digital notes due May 29, 2015 linked to Honeywell International Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above the initial share price, the payout at maturity will be par plus the greater of 5.5% and any gain, up to an underlying return of 15%.
The payout will be par plus 5.5% if the stock falls by up to 20%, and investors will be fully exposed to any losses if the stock finishes below the knock-in level.
Barclays is the placement agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Digital notes
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Underlying stock: | Honeywell International Inc. (Symbol: HON)
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Amount: | $1 million
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Maturity: | May 29, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If Honeywell stock gains, par plus greater of 5.5% and any gain, capped at 15%; par plus 5.5% if stocks falls by up to 20%; otherwise, full exposure to any losses
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Initial stock price: | $88.53
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Knock-in price: | $70.824, 80% of initial share price
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Pricing date: | Nov. 26
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Settlement date: | Dec. 2
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Agent: | Barclays
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Fees: | 1%
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Cusip: | 22547QE44
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