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Credit Suisse to price knock-out notes linked to S&P 500 index
By Jennifer Chiou
New York, July 9 - Credit Suisse AG, Nassau Branch plans to price 0% knock-out notes due Jan. 23, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than the knock-out buffer amount of 27.55% during the life of the notes.
If a knock-out event occurs, the payout at maturity will be par plus the index return, which could be positive or negative. 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: 22546TWL1) will price on July 13 and settle on July 18.
J.P. Morgan Securities LLC is the agent.
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