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Credit Suisse plans 15-month knock-out notes linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., April 16 – Credit Suisse AG, London Branch plans to price 0% knock-out notes due July 21, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the knock-out level, expected to be 84% of the initial level, the payout at maturity will be par plus the fixed payment percentage, which is expected to be 8%.
If the final index level is less than the knock-out level, investors will lose 1% for every 1% that the index declines from its initial level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
The notes will price April 18.
The Cusip number is 22552FB35.
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