Published on 4/6/2021 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $439,000 digital barrier notes linked to index, ETF
By Wendy Van Sickle
Columbus, Ohio, April 6 – Credit Suisse AG, London Branch priced $439,000 of 0% digital barrier notes due Sept. 22, 2022 linked to the lower performing of the Russell 2000 index and the Communication Services Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either underlier finishes below its knock-in level, 80% of its initial level.
If the lesser-performing underlier finishes at or above its initial level, the payout at maturity will be par plus 22%. If the lesser-performing underlier finishes below its initial level but a knock-in event has not occurred, the payout will be par. If a knock-in event occurs, investors will be exposed to the decline of the lesser-performing underlier from its initial level.
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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| Underliers: | Russell 2000 index and Communication Services Select Sector SPDR fund
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| Amount: | $439,000
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| Maturity: | Sept. 22, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 22% if each underlier finishes at or above initial level; par if lesser-performing underlier finishes below initial level but at or above knock-in level; if lesser-performing underlier finishes below knock-in level, 1% loss for each 1% that lesser-performing underlier declines from initial level
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| Initial levels: | $75.41 for ETF, 2,287.545 for index
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| Knock-in levels: | $60.328 for ETF, 1,830.036 for index, or 80% of initial levels
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| Pricing date: | March 19
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| Settlement date: | March 24
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 22552XE58
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