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Credit Suisse plans coupon digital barrier notes on S&P, Russell 2000
By Toni Weeks
San Luis Obispo, Calif., March 27 – Credit Suisse AG plans to price coupon digital barrier notes due April 30, 2020 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon rate is expected to be 2% per year, payable quarterly.
A knock-in event will occur if either underlying index finishes at or below its knock-in level, 70% of its initial level.
If a knock-in event occurs, the payout at maturity will be par plus the return of the lesser-performing index, with full exposure to losses.
If a knock-in event does not occur, the payout will be par plus a fixed payment percentage that is expected to be 21% to 25% and will be set at pricing.
The notes (Cusip: 22546VAK2) will price April 27 and settle April 30.
Credit Suisse Securities (USA) LLC is the agent.
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