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Credit Suisse to price digital barrier notes linked to S&P, Russell
By Tali Rackner
Norfolk, Va., March 2 – Credit Suisse AG, London Branch plans to price 0% digital barrier notes due April 6, 2017 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either index finishes at or below its knock-in level, 65% 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 9% and will be set at pricing.
If a knock-in event occurs, investors will be fully exposed to the decline of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on March 3 and settle on March 8.
The Cusip number is 22546VYE0.
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