Published on 9/5/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $6.25 million digital barrier notes linked to S&P 500, Russell 2000
By Toni Weeks
San Luis Obispo, Calif., Sept. 4 – Credit Suisse AG, London Branch priced $6.25 million of 0% digital barrier notes due Sept. 22, 2017 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 the lowest-performing index is equal to or greater than its return barrier, 90% of its initial level, the payout at maturity will be par plus the fixed payment of 48%.
If the final level of the lowest-performing index is less than its return barrier but at or above its knock-in level, 80% of its initial level, the payout will be par.
If the final level of the lowest-performing index is below its knock-in level, investors will lose 2% for every 1% decline in the lowest-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Digital barrier notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $6.25 million
|
| Maturity: | Sept. 22, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of lowest-performing index is equal to or greater than return barrier, par plus 48%; if final level of lowest-performing index is less than return barrier but at or above knock-in level, par; if final level of lowest-performing index is below knock-in level, 2% loss for every 1% decline in that index from initial level
|
| Initial index levels: | 2,000.72 for S&P 500 and 1,172.20 for Russell 2000
|
| Return barriers: | 1,800.65 for S&P 500 and 1,054.98 for Russell 2000; 90% of initial levels
|
| Knock-in levels: | 1,600.58 for S&P 500 and 937.76 for Russell 2000; 80% of initial levels
|
| Pricing date: | Sept. 3
|
| Settlement date: | Sept. 10
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 22547QT97
|
© 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.
