Published on 3/28/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.96 million digital-plus barrier notes on S&P 500
By Jennifer Chiou
New York, March 28 - Credit Suisse AG, Nassau Branch priced $3,955,000 of 0% digital-plus barrier notes due March 28, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is equal to or greater than the initial level, the payout at maturity will be par plus the greater of the 18% fixed payment percentage and the index return.
If the final index level is less than the initial level and greater than the knock-in level - 70% of the initial level - the payout at maturity will be par.
If the final index level is less than or equal to the knock-in level, investors will be exposed to the decline from the initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse, Nassau Branch
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Issue: | Digital-plus barrier notes
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Underlying index: | S&P 500
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Amount: | $3,955,000
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Maturity: | March 28, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is equal to or greater than initial level, the payout at maturity will be par plus the greater of the index return and 18%; if final level is less than initial level and greater than knock-in level, par; if final level is less than or equal to knock-in level, full exposure to losses
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Initial level: | 1,551.69
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Knock-in level: | 1,086.183, 70% of initial level
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Pricing date: | March 25
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Settlement date: | March 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.5%
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Cusip: | 22546T2T7
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