By Toni Weeks
San Luis Obispo, Calif., April 22 – Credit Suisse AG, London Branch priced $646,000 of 2% coupon digital barrier notes due April 26, 2021 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par plus the underlying return of the lowest-performing index.
A knock-in event occurs if the final level of either index is equal to or less than its knock-in level, 70% of the 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 of 33.5%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Coupon digital barrier notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $646,000
|
| Maturity: | April 26, 2021
|
| Coupon: | 2%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus underlying return of lowest-performing index; exposure to losses if knock-in event occurs; otherwise, par plus 33.5% if knock-in event does not occur
|
| Knock-in event: | Final level of either index is equal to or less than its knock-in level
|
| Initial index levels: | 2,081.18 for S&P 500 and 1,251.858 for Russell 2000
|
| Knock-in levels: | 1,456.826 for S&P 500 and 876.3006 for Russell 2000, 70% of initial levels
|
| Pricing date: | April 17
|
| Settlement date: | April 24
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.8%
|
| Cusip: | 22546VC46
|
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