Published on 4/13/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.76 million absolute return digital barrier notes on indexes
By Marisa Wong
Morgantown, W.Va., April 13 – Credit Suisse AG, London Branch priced $1.76 million of 0% absolute return digital barrier securities due April 5, 2022 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 47.5%.
If either index falls but each index finishes above its knock-in level, 60% of its initial level, the payout will be par plus the absolute value of the return of the worse performing index.
Otherwise, investors will be fully exposed to the decline of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Absolute return digital barrier securities
|
Underlying indexes: | S&P 500, Russell 2000
|
Amount: | $1,761,000
|
Maturity: | April 5, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above initial level, par plus 47.5%; if either index falls but each index finishes above knock-in level, par plus absolute value of return of worse performing index; otherwise, full exposure to losses of worse performing index
|
Initial levels: | 1,385.920 for Russell, 2,362.72 for S&P
|
Knock-in levels: | 831.552 for Russell, 1,417.632 for S&P; 60% of initial levels
|
Pricing date: | March 31
|
Settlement date: | April 5
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.7%
|
Cusip: | 22548QWE1
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.