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Credit Suisse plans to price knock-out notes linked Weatherford
By Angela McDaniels
Tacoma, Wash., Oct. 14 – Credit Suisse AG plans to price 0% knock-out notes due Nov. 4, 2015 linked to the ordinary shares of Weatherford International plc, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final share price is less than the initial share price by more than the knock-out buffer amount, which is expected to be 32.5% and will be set at pricing.
If a knock-out event has not occurred, the payout at maturity will be par plus the fixed payment percentage, which is expected to be 10%. If a knock-out event does occur, investors will be fully exposed to the share price decline.
The exact knock-out buffer amount and fixed payment percentage will be set at pricing.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
The notes are expected to price Oct. 17 and settle Oct. 21.
The Cusip number is 22547QUZ7.
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