Credit Suisse plans digital barrier notes tied to indexes, ETF

By Toni Weeks

San Luis Obispo, Calif., May 30 - Credit Suisse AG, Nassau Branch plans to price 0% digital barrier notes due June 30, 2015 linked to the S&P 500 index, the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus a fixed payment percentage of 18% to 20% unless a knock-in event occurs. A knock-in event occurs if the final level of any underlying component falls to or below its knock-in level - expected to be 55% of the initial level - on any trading date during the life of the notes.

If a knock-in event occurs and the worst-performing component closes at or above its initial level, the payout will be par.

If a knock-in event occurs and the worst-performing component closes below its initial level, investors will receive par plus the return of the worst-performing component.

The final terms will be determined at pricing.

The notes (Cusip: 22547Q2T2) are expected to price June 25 and settle June 28.

Credit Suisse Securities (USA) LLC will be the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.