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Credit Suisse plans dual directional knock-out notes linked to Stoxx
By Angela McDaniels
Tacoma, Wash., Nov. 18 – Credit Suisse AG, London Branch plans to price 0% dual directional capped knock-out notes due May 25, 2017 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the index return, subject to a maximum return that is expected to be at least 19% and will be set at pricing.
If the final index level is less than or equal to the initial index level but the index does not decline by more than 19%, the payout will be par plus the absolute value of the index return.
If the index declines by more than 19%, investors will be fully exposed to the index’s decline from its initial level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
The notes will price Nov. 20.
The Cusip number is 22546VNS1.
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