Published on 4/20/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $898,000 digital plus barrier notes linked to Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, April 20 – Credit Suisse AG, London Branch priced $898,000 of 0% digital plus barrier notes due April 21, 2025 linked 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.
If neither index falls from its initial level, the payout at maturity will be par plus the greater of any gain of the laggard index and 55%.
If either index falls but not by more than 30%, the payout will be par.
Otherwise, the payout will be par plus the return of the least performing index with full exposure to the decline.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Digital plus barrier notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $898,000
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| Maturity: | April 21, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index gains or finishes flat, par plus greater of return of laggard index and 55%; if laggard index falls by up to 30%, par; otherwise, par plus the return of the least performing index with full exposure to the decline
|
| Initial levels: | 2,874.56 for S&P and 1,229.098 for Russell
|
| Knock-in levels: | 2,012.192 for S&P and 860.3686 for Russell, or 70% of initial levels
|
| Pricing date: | April 17
|
| Settlement date: | April 21
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.125%
|
| Cusip: | 22551NYH3
|
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