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Credit Suisse plans 15-month knock-out notes linked to S&P 500
By Susanna Moon
Chicago, May 25 – Credit Suisse AG, London Branch plans to price 0% knock-out notes due Aug. 29, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the index falls by more than the 15% knock-out buffer.
If a knock-out event has not occurred, the payout at maturity will be par plus a fixed payment of 6.95%.
Otherwise, investors will lose 1% for every 1% decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
The notes will price on May 26 and settle on June 1.
The Cusip number is 22550B5L3.
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