By Toni Weeks
San Luis Obispo, Calif., Dec. 24 – Credit Suisse AG, London Branch priced $1.09 million of 0% digital-plus barrier notes due Dec. 29, 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 equal to or greater than the initial level, the payout at maturity will be par plus the greater of the 47% fixed payment percentage and the index return.
If the final index level is less than the initial level and greater than the knock-in level – 70% of the initial level – the payout at maturity will be par.
If the final index level is less than or equal to the knock-in level, investors will be exposed to the decline from the initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse, London Branch
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Issue: | Digital-plus barrier notes
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Underlying index: | S&P 500
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Amount: | $1.09 million
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Maturity: | Dec. 29, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is zero or positive, par plus greater of index return and 47%; if final level is less than initial level and greater than knock-in level, par; if final level is less than or equal to knock-in level, full exposure to losses from initial level
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Initial level: | 2,070.65
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Knock-in level: | 1,449.455, 70% of initial level
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Pricing date: | Dec. 19
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Settlement date: | Dec. 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.8%
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Cusip: | 22547QYC4
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