Published on 7/30/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5.5 million digi cert plus notes linked to S&P 500, Russell 2000
By Toni Weeks
San Luis Obispo, Calif., July 30 – Credit Suisse AG, London Branch priced $5.5 million of 0% digi cert plus securities due May 5, 2016 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of each index is equal to or greater than its knock-in level, 80% of the initial level, the payout at maturity will be par plus the 22.35% fixed payment percentage.
If either index finishes below its knock-in level, investors will lose 2% for every 1% decline of the worst-performing index from its initial level to its final level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Digi cert plus securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $5.5 million
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Maturity: | May 5, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above 80% knock-in level, par plus 22.35%; otherwise, 2% loss for every 1% decline of worst-performing index from its initial to final level
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Initial index levels: | 1,978.34 for S&P 500 and 1,144.72 for Russell 2000
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Knock-in levels: | 1,582.67 for S&P 500 and 915.78 for Russell 2000, 80% of initial levels
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Pricing date: | July 25
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Settlement date: | July 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.42%
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Cusip: | 22547QRB4
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