Published on 12/1/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.73 million digital barrier notes linked to S&P, Russell
By Tali Rackner
Norfolk, Va., Dec. 1 – Credit Suisse AG, London Branch priced $1.73 million of digital barrier notes due May 30, 2017 linked to 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 finishes at or 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 9.5%.
If a knock-in event occurs, investors will be fully exposed to the decline of the lesser-performing index.
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: | $1,732,000
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Maturity: | May 30, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If either index finishes above knock-in level, par plus 9.5%; otherwise, 1% loss for every 1% that lesser-performing index’s final level is less than initial level
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Initial index levels: | 2,089.17 for S&P 500 and 1,175.1514 for Russell 2000
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Knock-in levels: | 1,566.8775 for S&P 500 and 881.36355 for Russell 2000; 75% of initial levels
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Pricing date: | Nov. 20
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Settlement date: | Nov. 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.85%
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Cusip: | 22546VPU4
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