Published on 1/6/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $523,000 digital plus barrier notes linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., Jan. 6 – Credit Suisse AG, London Branch priced $523,000 of 0% digital plus barrier notes due Dec. 31, 2024 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index finishes at or above its initial level, the payout at maturity will be par plus the greater of the lesser-performing index’s return and 36.5%.
If the lesser-performing index finishes below its initial level but at or above its knock-in level, 70% of its initial level, the payout will be par.
If the lesser-performing index finishes below its knock-in level, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Digital plus barrier notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $523,000
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| Maturity: | Dec. 31, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser-performing index finishes at or above initial level, par plus greater of lesser-performing index’s return and 36.5%; if lesser-performing index finishes below initial level but at or above knock-in level, par; if lesser-performing index finishes below knock-in level, 1% loss for each 1% decline of lesser-performing index from initial level
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| Initial levels: | 1,677.670 for Russell, 3,239.91 for S&P
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| Knock-in levels: | 1,174.369 for Russell, 2,267.937 for S&P, or 70% of initial levels
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| Pricing date: | Dec. 26
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| Settlement date: | Dec. 31
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 4.6%
|
| Cusip: | 22551NBN5
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