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Credit Suisse plans 2% digital barrier notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., July 31 – Credit Suisse AG, London Branch plans to price coupon digital barrier notes due Aug. 30, 2021 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 does not occur, the payout at maturity will be par plus the fixed payment percentage, which is expected to be 31% to 36% and will be set at pricing.
If a knock-in event occurs, investors will lose 1% for every 1% that the lesser-performing index’s final level is less than its initial level.
Credit Suisse Securities (USA) LLC is the agent.
The notes are expected to price Aug. 21 and settle Aug. 28.
The Cusip number is 22546VJ98.
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