Credit Suisse plans knock-out notes with no cap linked to S&P 500

By Susanna Moon

Chicago, Jan. 26 – Credit Suisse AG, London branch plans to price 0% knock-out notes due Aug. 1, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index finishes above the 78.7% knock-out level, the payout at maturity will be par plus any gain.

If the index falls by more than the 21.3% knock-out buffer, the payout at maturity will be par plus the index return, with full exposure to losses.

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

The notes will price on Jan. 29 and settle on Feb. 2.

The Cusip number is 22546VVB9.

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