Credit Suisse to price digital-plus barrier notes linked to S&P 500

By Marisa Wong

Madison, Wis., Oct. 3 – Credit Suisse AG plans to price 0% digital-plus barrier notes due Nov. 2, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the initial index level, then the payout at maturity will be par plus the greater of the fixed payment percentage and the index return. The fixed payment percentage is expected to be 43% to 48% and will be set at pricing.

If the final index level is less than the initial index but greater than the knock-out level, about 70% of the initial index level, then the payout will be par.

If the final index level is less than or equal to the knock-out level, then investors will be fully exposed to the decline of the index from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes are expected to price Oct. 24 and settle Oct. 31.

The Cusip number is 22547QU46.

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