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Credit Suisse plans digital barrier notes linked to S&P 500, Russell
By Sarah Lizee
Olympia, Wash., March 25 – Credit Suisse AG, London Branch plans to price 0% digital barrier notes due May 4, 2020 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 closes below its knock-in level, 70% of its initial level, 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 percentage, which is expected to be 7.7% and will be set at pricing. If a knock-in event does occur, the payout will be par plus the return of the lesser-performing index, subject to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price March 29.
The Cusip number is 22552F4D1.
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