New Issue: Credit Suisse prices $705,000 knock-out notes tied to Hang Seng basket

By Marisa Wong

Madison, Wis., Sept. 25 - Credit Suisse AG, Nassau Branch priced $705,000 of 0% capped knock-out notes due Oct. 9, 2013 linked to equal weights of the Hang Seng China Enterprises index and the Hang Seng index, as well as the Hong Kong dollar relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event occurs if the basket falls by more than 20%.

If a knock-out event does not occur, the payout at maturity will be par any basket gain, up to a maximum return of 20% with a minimum return of zero.

Otherwise, the payout at maturity will be par plus the basket return, with exposure to any losses.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

Issuer:	Credit Suisse AG, Nassau Branch
Issue:	Capped knock-out notes
Underlying indexes:	Hang Seng China Enterprises index and Hang Seng index, equally weighted
Amount:	$705,000
Maturity:	Oct. 9, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	If basket does not fall by more than 20%, par plus any basket gain, up to maximum return of 20% and with a minimum return of par; otherwise, full exposure to decline
Initial levels:	9,804.77 for Enterprises index; 20,734.94 for Hang Seng index
Initial spot rate:	0.12897
Pricing date:	Sept. 21
Settlement date:	Sept. 26
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA (placement)
Fees:	1%
Cusip:	22546TZP9

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.