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Credit Suisse to price knock-out notes due 2020 tied to S&P 500 index
Chicago, Dec. 6 – Credit Suisse AG, London Branch will price 0% knock-out notes due March 11, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange.
A knock-out event will occur if the index finishes below its initial level by more than the knock-out amount. The knock-out amount is expected to be 15% and will be set at pricing.
If a knock-out event has not occurred, the payout at maturity will be par plus 9.85%.
If a knock-out event has occurred, investors will lose 1% for each 1% decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.
The notes (Cusip: 22551LPB0) are expected to price Dec. 7 and settle Dec. 12.
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