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Credit Suisse to price capped knock-out notes linked to General Motors
By Jennifer Chiou
New York, April 2 - Credit Suisse AG, Nassau Branch plans to price 0% capped knock-out notes due April 22, 2015 linked to the common stock of General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the final share price is less than the initial price by more than the knock-out buffer, which is expected to be 10%.
If a knock-out event does not occur, the payout at maturity will be par plus twice the index return, capped at 33% and with a floor of zero.
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: 22547QL53) are expected to price on April 4 and settle on April 9.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
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