Published on 2/23/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.23 million digital barrier notes linked to biotech ETF, S&P
By Wendy Van Sickle
Columbus, Ohio, Feb. 23 – Credit Suisse AG, London Branch priced $1.23 million of 0% digital barrier notes due March 22, 2018 linked to the S&P 500 index and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either underlier finishes at or below its knock-in level, 62% of its initial level.
If a knock-in event does not occur, the payout at maturity will be par plus the 7.5% fixed payment. If a knock-in event does occur, investors will be exposed to the decline of the lesser-performing underlier.
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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Underliers: | S&P 500 index and SPDR S&P Biotech ETF
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Amount: | $1,255,000
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Maturity: | March 22, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If either underlier finishes below knock-in level, par plus return of lesser-performing underlier; otherwise, par plus 7.5%
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Initial levels: | 2,351.16 for index and $69.45 for ETF
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Knock-in levels: | 1,457.72 for index and $43.06 for ETF; 62% of initial levels
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Pricing date: | Feb. 17
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Settlement date: | Feb. 23
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.7%
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Cusip: | 22548QV69
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