Published on 12/10/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $771,000 digital barrier notes linked to Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Dec. 10 – Credit Suisse AG, London Branch priced $771,000 of 0% digital barrier notes due Dec. 31, 2020 linked to the lower 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 index closes below its knock-in level, 75% 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 10%. 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.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Digital barrier notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $771,000
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Maturity: | Dec. 31, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 10% unless either index closes below knock-in level during life of notes, in which case par plus return of lesser-performing index, subject to maximum payout of par
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Initial levels: | 3,153.63 for S&P 500 and 1,634.104 for Russell 2000
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Knock-in levels: | 2,365.2225 for S&P 500 and 1,225.578 for Russell 2000, or 75% of initial levels
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Pricing date: | Nov. 27
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Settlement date: | Dec. 3
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.75%
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Cusip: | 22551N4W3
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