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Credit Suisse plans digital barrier notes on S&P 500 and Russell 2000
By Devika Patel
Knoxville, Tenn., July 13 – Credit Suisse AG, London Branch intends to price 0% digital barrier securities due July 26, 2023 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 greater than 70% of its initial level, the payout at maturity will be par plus the fixed payment percentage, which is expected to be between 48% and 51%. The exact fixed payment percentage will be set at pricing.
If the final level of the lowest-performing index is equal to or less than 70% of its initial level, investors will lose 1% for each 1% decline of the lowest-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
The notes (Cusip: 22550BCJ0) will price on July 21 and settle on July 26.
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