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Credit Suisse plans index knock-out notes on S&P 500 via JPMorgan
By Susanna Moon
Chicago, Aug. 16 - Credit Suisse AG, Nassau Branch plans to price 0% capped index knock-out notes due Feb. 22, 2013 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
A knock-out event occurs if the index falls by more than 23% during the life of the notes.
If a knock-out event occurs, the payout at maturity will be par plus the index return, with exposure to any losses.
If a knock-out event never occurs, the payout will be par plus the greater of any index gain and a contingent minimum return of par.
The notes will price on Aug. 19 and settle on Aug. 24.
The Cusip is 22546TDK4.
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