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Credit Suisse plans digital barrier notes linked to S&P 500, Dow
By Sarah Lizee
Olympia, Wash., May 9 – Credit Suisse AG, London Branch plans to price 0% digital barrier notes due June 3, 2021 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either index finishes below its knock-in level, 75% of its initial level.
If a knock-in event does not occur, the payout at maturity will be par plus the fixed payment percentage, which is expected to be 12% and will be set at pricing.
If a knock-in event does occur, the payout will be par plus the return of the lesser-performing index with full exposure to the decline.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price May 29.
The Cusip number is 22552FF23.
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