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Credit Suisse to price capped knock-out notes tied to Russell 2000
By Sarah Lizee
Olympia, Wash., Aug. 7 – Credit Suisse AG, London Branch plans to price 0% capped knock-out notes due Aug. 28, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final index level is less than the initial level by more than the knock-out buffer amount, which is expected to be 20% and will be set at pricing.
If a knock-out event has not occurred, the payout at maturity will be par plus the index return, subject to a minimum payout of par and a maximum return that is expected to be 11.7% and will be set at pricing.
If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is less than the initial index level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
The notes will price on Aug. 10 and settle on Aug. 15.
The Cusip number 22551L3U2.
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