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Credit Suisse plans digital barrier notes on S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, July 7 – Credit Suisse AG, London Branch plans to price 0% digital barrier notes due Jan. 29, 2018 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 underlying index finishes at or below its knock-in level, which is expected to be about 75% of its initial level. The exact knock-in level will be set at pricing.
If a knock-in event does not occur, the payout at maturity will be par plus the fixed payment, which is expected to be 11% to 12%. The exact fixed payment amount will be set at pricing.
If a knock-in event occurs, investors will lose 1% for each 1% loss of the worse-performing index.
Credit Suisse Securities (USA) LLC is the agent.
The notes (Cusip: 22548QC29) will price on July 22 and settle on July 29.
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