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Credit Suisse plans one-year knock-out notes linked to S&P 500
By Susanna Moon
Chicago, March 8 – Credit Suisse AG, London branch plans to price 0% knock-out notes due March 29, 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 85% knock-out level, the payout at maturity will be $1,078.50 per $1,000 principal amount of notes.
If the index falls by more than the 15% 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 March 11 and settle on March 16.
The Cusip number is 22546VYT7.
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