Published on 10/6/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $99,000 digital barrier notes on energy, financial funds
By Tali Rackner
Norfolk, Va., Oct. 6 – Credit Suisse AG, London Branch priced $99,000 of 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, 60% of its initial level.
If the return of the worst-performing fund is positive, the payout at maturity will be par plus the fixed payment of 65%.
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.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Digital barrier notes
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Underlying funds: | Energy Select Sector SPDR fund, Financial Select Sector SPDR fund
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Amount: | $99,000
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Maturity: | Oct. 5, 2020
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus fixed payment of 65% unless either fund finishes at or below its knock-in level, in which case investors will share fully in the decline of the worse performing fund
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Initial levels: | 70.61 for Energy Select, 19.30 for Financial Select
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Knock-in levels: | 42.366 for Energy Select, 11.58 for Financial Select; 60% of initial level
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.7%
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Cusip: | 22548QFF7
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