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Credit Suisse plans to price index knock-out notes tied to S&P 500
By Marisa Wong
Madison, Wis., Dec. 12 - Credit Suisse AG, Nassau Branch plans to price 0% index knock-out notes due June 26, 2013 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
A knock-out event occurs if the final index level is less than the initial level by more than 27%.
If a knock-out event occurs, the payout at maturity will be par plus the index return, with exposure to any losses.
If a knock-out event does not occur, the payout will be par plus the greater of the index return and zero.
The notes (Cusip: 22546TJQ5) will price on Dec. 16 and settle on Dec. 21.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
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