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Credit Suisse plans capped knock-out notes due 2015 linked to S&P 500
By Jennifer Chiou
New York, Nov. 12 – Credit Suisse AG plans to price 0% capped knock-out notes due Dec. 2, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the index closes below the 81.95% knock-out level during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus any index gain with a floor of par and gains capped at 15%.
If a knock-out event has occurred, the payout will be par plus the return with full exposure to losses.
The notes (Cusip: 22547QWW2) will price on Nov. 14 and settle on Nov. 19.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
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