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Credit Suisse plans to price digital barrier notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 15 – Credit Suisse AG, London Branch plans to price 0% digital barrier notes due Jan. 4, 2018 linked to the lowest performing of 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 closes at or below its knock-in level, about 75% of the initial level, any day during the life of the notes.
If a knock-in event does not occur, the payout at maturity will be par plus the fixed payment, which is expected to be 6% and will be set at pricing.
If a knock-in event occurs, investors will be exposed to any decline in the final level of the lesser-performing index and will receive par if neither index finishes below its initial level.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Nov. 29 and settle on Dec. 2.
The Cusip number is 22548QNK7.
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