By Tali Rackner
Minneapolis, May 2 – Credit Suisse AG, London Branch priced $1 million of 0% knock-out notes due May 6, 2019 linked to the common stock of Bristol-Myers Squibb Co., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above 75% of its initial value, the payout at maturity will be par plus 8.95%.
If the stock falls by more than the 25% knock-out buffer, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Knock-out notes
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| Underlying stock: | Bristol-Myers Squibb Co. (Symbol: BMY)
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| Amount: | $1 million
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| Maturity: | May 6, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 8.95% unless stock falls by more than 25%, in which case 1% loss for each 1% stock decline
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| Initial price: | $52.38
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| Knock-out buffer level: | $39.29
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| Pricing date: | April 18
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| Settlement date: | April 23
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 22550WQF7
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