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Credit Suisse plans dual directional capped knock-out notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Oct. 26 – Credit Suisse AG, London Branch plans to price 0% dual directional capped knock-out notes due Nov. 15, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout will be par plus the gain up to a maximum return expected to be 6%.
If the index falls by up to the contingent buffer of 18.3%, the payout will be par plus the absolute value of the return.
If the index falls by more than 18.3%, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
The notes will price on Oct. 28 and settle on Nov. 4.
The Cusip number is 22548QM77.
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