Published on 2/5/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $291,000 digital plus barrier notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – Credit Suisse AG, London Branch priced $291,000 of 0% digital plus barrier notes due Jan. 31, 2025 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 32%.
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: | $291,000
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Maturity: | Jan. 31, 2025
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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 32%; 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: | 1,658.314 for Russell, 3,276.24for S&P
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Knock-in levels: | 1,160.8198 for Russell, 2,293.368 for S&P, or 70% of initial levels
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Pricing date: | Jan. 28
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Settlement date: | Jan. 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 4.6%
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Cusip: | 22551NFK7
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