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Credit Suisse to price knock-out notes on SPDR S&P Regional Banking
By Marisa Wong
Morgantown, W.Va., Oct. 18 – Credit Suisse AG, London Branch plans to price 0% knock-out notes due Nov. 6, 2019 linked to the SPDR S&P Regional Banking exchange-traded fund, according to a 424B2 filing with the Securities and Exchange.
A knock-out event will occur if the final share price is less than 80% of the initial share price.
If a knock-out event has not occurred and the ETF return is zero or positive, the payout at maturity will be par plus 11.9%.
If a knock-out event has not occurred and the ETF return is negative, the payout will be par.
If a knock-out event has occurred, investors will be fully exposed to the ETF’s decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
The notes will price on Oct. 19.
The Cusip number is 22551LGD6.
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