Credit Suisse to price digital barrier notes on Stoxx Banks, oil fund

By Devika Patel

Knoxville, Tenn., June 30 – Credit Suisse AG, London Branch plans to price 0% digital barrier notes due Aug. 10, 2018 linked to the Euro Stoxx Banks index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-in event will occur if either underlying finishes at or below its knock-in level, which is expected to be about 65% of the initial level and will be set at pricing.

If a knock-in event does not occur, the payout at maturity will be par plus the fixed payment, which is expected to be between 10% and 10.5%. The exact fixed payment amount will be set at pricing.

If a knock-in event occurs, investors will lose 1% for each 1% decline of the worse performing underlying from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22550BC84) will price on July 7 and settle on July 12.

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