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Credit Suisse plans coupon digital barrier notes tied to S&P, Russell
By Marisa Wong
Morgantown, W.Va., Sept. 8 – Credit Suisse AG plans to price coupon digital barrier notes due Sept. 27, 2021 linked to the S&P 500 index and the Russell 2000 index, according to an FWP 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 32.5% to 37.5% 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 underwriter.
The notes will price on Sept. 18 and settle on Sept. 25.
The Cusip number is 22546VKY1.
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