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Credit Suisse to price protected upside knock-out notes linked to S&P 500
By Jennifer Chiou
New York, Oct. 31 - Credit Suisse, Nassau branch plans to price principal-protected upside knock-out notes due Nov. 28, 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event will occur if the index closes at or above the knock-out level, which is 150% to 155% of the initial level.
At maturity, the notes will pay par plus any positive index return unless a knock-out event occurs.
If a knock-out event occurs, the payout at maturity will be par plus the fixed payment of 10.75%.
The notes are expected to price on Nov. 21 and settle on Nov. 26.
Credit Suisse will be the agent.
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