Credit Suisse plans dual directional knock-out notes on banking ETF

By Marisa Wong

Morgantown, W.Va., Feb. 15 – Credit Suisse AG, London Branch plans to price 0% dual directional capped knock-out notes due Feb. 20, 2020 linked to the SPDR S&P Regional Banking exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund finishes at or above its initial level, the payout at maturity will be par plus the fund gain, up to a maximum return that is expected to be 33.2%.

If the fund falls by up to 15%, the payout will be par plus the absolute value of the fund return.

If the fund falls by more than the 15% contingent buffer, investors will be fully exposed to the decline.

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

The notes will price on Feb. 16.

The Cusip number is 22550WEU7.

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