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Credit Suisse plans index knock-out notes on S&P 500 via JPMorgan
By Jennifer Chiou
New York, Sept. 13 - Credit Suisse AG, Nassau Branch plans to price 0% index knock-out notes due March 25, 2013 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
A knock-out event occurs if the final index falls by more than 24% relative to the initial level.
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 does not occur, the payout will be par plus the greater of any index gain and a contingent minimum return of par.
The notes (Cusip: 22546TEU1) will price on Sept. 16 and settle on Sept. 21.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
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