Published on 12/20/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.85 million digital barrier notes linked to EAFE ETF, Russell
By Angela McDaniels
Tacoma, Wash., Dec. 20 – Credit Suisse AG, London Branch priced $2.85 million of 0% digital barrier notes due Jan. 19, 2018 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either underlier closes at or below its knock-in level, 60% of its initial level, during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus 7%. If a knock-out event does occur, the payout will be par plus the return of lesser-performing underlier, 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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Underliers: | Russell 2000 index and iShares MSCI EAFE ETF
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Amount: | $2,854,000
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Maturity: | Jan. 19, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If either underlier closes at or below knock-in level during life of notes, par plus return of lesser-performing underlier, subject to maximum payout of par; otherwise, par plus 7%
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Initial levels: | 1,364.189 for index and $58.13 for ETF
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Knock-in levels: | 818.5134 for index and $34.878 for ETF; 60% of initial levels
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Pricing date: | Dec. 16
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Settlement date: | Dec. 21
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.43%
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Cusip: | 22548QQ99
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