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Credit Suisse to price knock-out notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., Oct. 9 - Credit Suisse AG, Nassau Branch plans to price 0% knock-out notes due April 16, 2014 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index's final level is less than the initial level by more than the knock-out buffer amount, which is expected to be 20%.
If a knock-out event has not occurred, the payout at maturity will be par plus the greater of the index return and the contingent minimum return, which is expected to be 7%. If a knock-out event has occurred, investors will be fully exposed to the index's decline from its initial level.
The exact knock-out buffer amount and contingent minimum return will be set at pricing.
The notes are expected to price Oct. 12 and settle Oct. 17.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
The Cusip number is 22546TD32.
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