Published on 5/1/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $640,000 digital plus barrier notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 1 – Credit Suisse AG, London Branch priced $640,000 of 0% digital plus barrier notes due April 28, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus the greater of the return of the lesser performing index and the fixed payment percentage of 45%.
If either index falls but both finish at or above the knock-in level, 70% of the initial index level, the payout will be par.
If either index finishes below the knock-in level, investors will be fully exposed to the lesser performing index’s decline from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Digital plus barrier notes
|
Underlying indexes: | S&P 500 and Russell 2000
|
Amount: | $640,000
|
Maturity: | April 28, 2023
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If final level of lesser-performing index is greater than or equal to initial level par plus greater of return and 45%; if either index falls but both finish at or above knock-in level, par; if either index finishes below knock-in level, full exposure to decline of lesser-performing index
|
Initial levels: | 2,639.40 for S&P and 1,550.467 for Russell
|
Knock-in levels: | 1,847.58 for S&P and 1,085.3269 for Russell; 70% of initial levels
|
Pricing date: | April 25
|
Settlement date: | April 30
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 4.6%
|
Cusip: | 22550WL39
|
|
|
© 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.