Published on 7/8/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.5 million digital barrier plus notes linked to Russell, S&P 500
By Angela McDaniels
Tacoma, Wash., July 8 – Credit Suisse AG, London Branch priced $1.5 million of 0% digital barrier plus notes due June 28, 2024 linked to the lower performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the underlying return of the lesser-performing index.
If an index’s final level is greater than or equal to its initial level, its underlying return will be the greater of its return and 43%.
If an index’s final level is less than its initial level and a knock-in event occurs, that index’s underlying return will be equal to its return. A knock-in event occurs if either index finishes below its knock-in level, 70% of its initial level.
If an index’s final level is less than its initial level and a knock-in event does not occur, that index’s underlying return will be zero.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Digital barrier plus notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,503,000
|
| Maturity: | June 28, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus underlying return of lesser-performing index
|
| Underlying return: | If index’s final level is greater than or equal to initial level, greater of index return and 43%; if index’s final level is less than initial level and knock-in event occurs, equal to index return; if index’s final level is less than initial level and knock-in event does not occur, zero
|
| Knock-in event: | Either index finishes below knock-in level
|
| Initial levels: | 2,917.38 for S&P 500 and 1,521.035 for Russell 2000
|
| Knock-in levels: | 2,042.166 for S&P 500 and 1,064.7245 for Russell 2000, or 70% of initial levels
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 4.6%
|
| Cusip: | 22552FGR7
|
© 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.
