Published on 4/18/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $597,000 digital barrier notes on Stoxx Banks, SPDR S&P Oil
By Wendy Van Sickle
Columbus, Ohio, April 18 – Credit Suisse AG, London Branch priced $597,000 of digital barrier notes due May 10, 2018 linked to the lesser performing of 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.
If each asset finishes above its 70% knock-in level, the payout at maturity will be par plus a fixed payment of 14%.
Otherwise, investors will be fully exposed to any losses of the worse performing asset.
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 assets: | Euro Stoxx Banks index and SPDR S&P Oil & Gas Exploration & Production exchange-traded fund
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Amount: | $597,000
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Maturity: | May 10, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each asset finishes at or above knock-n level, par plus 14%; otherwise, full exposure to losses of worse performing asset
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Initial levels: | 125.95 for index, $37.22 for ETF
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Knock-in levels: | 88.165 for index, $26.054 for ETF; 70% of initial levels
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Pricing date: | April 7
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Settlement date: | April 12
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.7%
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Cusip: | 22548QYJ8
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