Credit Suisse to price capped knock-out notes on SPDR S&P Bank ETF

By Marisa Wong

Morgantown, W.Va., Nov. 18 – Credit Suisse AG, London Branch plans to price 0% capped knock-out notes due Dec. 7, 2016 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event occurs if the final fund level is less than the initial level by more than the knock-out buffer amount, which is expected to be 15% and will be set at pricing.

If a knock-out event does not occur, the payout at maturity will be par plus 1.5 times any fund gain, subject to a maximum return of 13.065%. The exact upside leverage factor and cap will be set at pricing.

If a knock-out event does not occur and the return is less than or equal to zero, the payout will be par.

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

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

The notes will price on Nov. 20 and settle on Nov. 25.

The Cusip number is 22546VQQ2.

© 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.