Credit Suisse plans dual directional knock-out notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., July 9 – Credit Suisse AG, London Branch plans to price 0% dual directional capped knock-out notes due July 29, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, subject to a maximum upside return that is expected to be 7%.

If the final index level is less than the initial index level but has not declined by more than 16%, the payout will be par plus the absolute value of the index return.

If the index declines by more than 16%, investors will have one-to-exposure to the index’s decline from its initial level.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

The notes will price July 12.

The Cusip number is 22552FNV0.

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