Published on 7/29/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $265,000 digital barrier notes linked to Russell, S&P 500
By Wendy Van Sickle
Columbus, Ohio, July 29 – Credit Suisse AG, London Branch priced $265,000 of 0% digital barrier notes due Aug. 27, 2020 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.
A knock-in event will occur if either index ever closes 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 7%. If a knock-in event does occur, the payout will be par plus the return of the lesser-performing index, subject to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Digital barrier notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $265,000
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Maturity: | Aug. 27, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 7% unless either index ever closes below knock-in level, in which case par plus return of lesser-performing index, subject to cap of par
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Initial levels: | 3,019.56 for S&P 500 and 1,580.417 for Russell 2000
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Knock-in levels: | 2,264.67 for S&P 500 and 1,185.31275 for Russell 2000, or 75% of initial levels
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Pricing date: | July 24
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Settlement date: | July 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.18%
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Cusip: | 22552FKR2
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