Credit Suisse plans to price digital plus barrier notes on S&P, Russell

By Tali Rackner

Minneapolis, April 21 – Credit Suisse AG, London Branch plans to price 0% digital plus barrier notes due April 29, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the lesser-performing index’s return and the fixed payment percentage, which is expected to be 37.5% to 42.5% and will be set at pricing.

If either index finishes below its initial level but greater than its knock-in level, 70% of its initial level, the payout will be par.

If either index finishes below its knock-in level, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on April 24 and settle on April 27.

The Cusip number is 22548QYC3.

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