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Credit Suisse plans five-year digital plus barrier notes linked to S&P
By Susanna Moon
Chicago, April 24 - Credit Suisse AG plans to price 0% digital plus barrier notes due May 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and a fixed payment percentage of 27.5% to 32.5%. The exact fixed payment will be set at pricing.
Investors will receive par if the index falls by up to 30% and will be fully exposed to any losses if the index finishes below the 70% knock-in level.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on May 23 and settle on June 2.
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