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Credit Suisse plans one-year knock-out notes linked to SPDR S&P Bank
By Susanna Moon
Chicago, March 8 – Credit Suisse AG, London branch plans to price 0% knock-out notes due March 29, 2017 linked to the SPDR S&P Bank exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund finishes above the 78% knock-out level, the payout at maturity will be $1,100 per $1,000 principal amount of notes.
If the fund falls by more than the 22% knock-out buffer, 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 agents.
The notes will price on March 11 and settle on March 16.
The Cusip number is 22546VYX8.
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