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Credit Suisse to price knock-out notes linked to Euro Stoxx Banks
By Toni Weeks
San Luis Obispo, Calif., June 19 – Credit Suisse AG plans to price 0% knock-out notes due June 23, 2016 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than the knock-out buffer – expected to be 15% – from the initial level on the June 20, 2016 final valuation date.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of the index return and the contingent minimum return, which is expected to be 6%.
If a knock-out event occurs, investors will share in those losses.
The exact terms will be set at pricing.
The notes (Cusip: 22547QPJ9) will price June 20 and settle June 25.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as agents.
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