Credit Suisse plans digital barrier notes on energy, financial funds

By Devika Patel

Knoxville, Tenn., Sept. 22 – Credit Suisse AG, London Branch, plans to price 0% digital barrier notes due Oct. 5, 2020 linked to the Energy Select Sector SPDR fund and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event will occur if either underlying fund finishes at or below its knock-in level which is expected to be about 60% of its initial level. The exact knock-in level will be set at pricing.

If the return of the worst-performing fund is positive, the payout at maturity will be par plus the fixed payment which is expected to be between 65% and 70%. The exact fixed payment amount will be set at pricing.

Otherwise, investors will receive par unless a knock-in event occurs, in which case investors will lose 1% for each 1% loss of the worse performing fund.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22548QFF7) will price on Sept. 30 and settle on Oct. 5.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.