Published on 8/29/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $8.41 million digital barrier notes on Disney
By Wendy Van Sickle
Columbus, Ohio, Aug. 29 – Credit Suisse AG, London Branch priced $8.41 million of 0% digital barrier notes due Oct. 1, 2020 linked to Walt Disney Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock never closes below its 75% knock-in level during the life of the notes, the payout at maturity will be par plus the fixed return of 11%.
If a knock-in event has occurred and the final level is greater than or equal to the initial level, the payout will be par.
If a knock-in event has occurred and the final level is less than the initial level, investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
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 stock: | Walt Disney Co.
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| Amount: | $8,412,000
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| Maturity: | Oct. 1, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the stock never closes below its 75% knock-in level during the life of the notes, par plus the fixed return of 11%; if a knock-in event has occurred and the final level is greater than or equal to the initial level, par; if a knock-in event has occurred and the final level is less than the initial level, a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent
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| Initial level: | $134.49
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| Knock-in level: | $100.8675; 75% of initial level
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.43%
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| Cusip: | 22549JW55
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