By Wendy Van Sickle
Columbus, Ohio, Jan. 26 – Credit Suisse AG, London Branch priced $6.33 million of 0% knock-out notes due July 25, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final index level is less than the initial index level by more than the knock-out buffer of 20.5%.
If a knock-out event has not occurred and the final index level is greater than the initial level, the payout at maturity will be par plus the index return.
If a knock-out event has not occurred and the final index level is less than or equal to the initial level, the payout will be par.
If a knock-out event has occurred, investors will be fully exposed to the index’s decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $6,326,000
|
| Maturity: | July 25, 2017
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| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | If knock-out event has not occurred and final level is greater than initial level, par plus index return; if knock-out event has not occurred and index is less than initial level, par; otherwise, full exposure to index decline
|
| Knock-out buffer amount: | 20.5%
|
| Initial level: | 1,906.90
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 27
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.25%
|
| Cusip: | 22546VUT1
|
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