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Credit Suisse to price review notes linked to S&P 500 via JPMorgan
By Angela McDaniels
Tacoma, Wash., Jan. 18 - Credit Suisse AG, Nassau Branch plans to price 0% review notes due Feb. 6, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called if the index closes at or above the initial index level on May 1, 2012, Aug. 1, 2012, Nov. 1, 2012 or Feb. 1, 2013. The payout will be par plus a call premium of at least 12% per year. The exact call premium will be set at pricing.
If the notes are not called and the final index level is at least 90% of the initial index level, the payout at maturity will be par. Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%.
The notes (Cusip: 22546TLA7) are expected to price Jan. 20 and settle Jan. 25.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
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