Published on 8/28/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $140,000 digital-plus barrier notes linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., Aug. 28 – Credit Suisse AG, London Branch priced $140,000 of 0% digital-plus barrier notes due Aug. 28, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the least-performing index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus the greater of that index’s return and 22.5%.
If the least-performing index’s final level is less than its initial level and a knock-out event has not occurred, the payout will be par. A knock-in event occurs if the final level of either index is less than or equal to 65% of its initial level.
If a knock-out event has occurred, investors will be fully exposed to the decline of the least-performing index from its initial level.
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: | $140,000
|
| Maturity: | Aug. 28, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If least-performing index’s final level is greater than or equal to initial level, par plus greater of that index’s return and 22.5%; if least-performing index’s final level is less than initial level and knock-out event has not occurred, par; if knock-out event has occurred, full exposure to decline of least-performing index from initial level
|
| Knock-out event: | Either index finishes at or below knock-in level
|
| Initial index levels: | 2,000.02 for S&P 500 and 1,175.17 for Russell 2000
|
| Knock-in levels: | 1,300.013 for S&P 500 and 763.861 for Russell 2000; 65% of initial levels
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.925%
|
| Cusip: | 22547QR65
|
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