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Credit Suisse plans to price digital barrier notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 30 – Credit Suisse AG, London Branch plans to price 0% digital barrier notes due April 30, 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 the initial level and 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 9.5% to 10.5%. The exact fixed payment amount will be set at pricing.
If a knock-in event occurs, investors will lose 1% for each 1% decline of the worse-performing index.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Oct. 21 and settle on Oct. 28.
The Cusip number is 22548QKF1.
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