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Credit Suisse to price capped knock-out notes tied to General Electric
By Toni Weeks
San Diego, July 9 - Credit Suisse AG, Nassau Branch plans to price 0% capped knock-out notes due July 31, 2013 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the share price falls by more than the knock-out buffer - expected to be 20% - from the initial level on the July 26, 2013 valuation date.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of the stock return and the 5.6% contingent minimum return, subject to a maximum return of 20%.
If a knock-out event occurs, the payout at maturity will be par plus the stock return, with exposure to losses.
The exact terms will be set at pricing.
The notes (Cusip: 22546TWK3) will price July 13 and settle July 18.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA will act as agents.
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