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Credit Suisse plans knock-out notes due 2018 linked to S&P 500 index
By Marisa Wong
Morgantown, W.Va., Aug. 23 – Credit Suisse AG, London Branch plans to price 0% knock-out notes due Feb. 28, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain.
If the index falls but a knock-out event has not occurred, the payout will be par. A knock-out event will occur if the final index level is less than the initial level by more than 20.5%.
If a knock-out event has occurred, investors will be fully exposed to the index decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
The notes will price Aug. 26.
The Cusip number is 22548QF26.
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