Published on 5/15/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.94 million digital barrier notes linked to Euro Stoxx, Russell
By Angela McDaniels
Tacoma, Wash., May 15 – Credit Suisse AG, London Branch priced $4.94 million of 0% digital barrier notes due July 16, 2018 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if either index closes at or below its knock-in level, 64.5% of its initial level, during the life of the notes.
If a knock-in event does not occur, the payout at maturity will be par plus 7.05%. If a knock-out event does occur, investors will receive par plus the return of the lesser-performing index, subject to a maximum payout of par.
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: | Euro Stoxx 50 and Russell 2000
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Amount: | $4,937,000
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Maturity: | July 16, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index’s closing level remains above knock-in level throughout life of notes, par plus 7.05%; otherwise, par plus lesser of zero and lesser-performing index’s return
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Initial index levels: | 1,382.770 for Russell 2000 and 3,637.52 for Euro Stoxx 50
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Knock-in levels: | 891.88665 for Russell 2000 and 2,346.2004 for Euro Stoxx 50; 64.5% of initial levels
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Pricing date: | May 12
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Settlement date: | May 16
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.46%
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Cusip: | 22550B4B6
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