New Issue: Credit Suisse prices $5 million capped knock-out notes linked to Citigroup

By Wendy Van Sickle

Columbus, Ohio, April 8 – Credit Suisse AG, London Branch priced $5 million of 0% capped knock-out notes due April 2, 2024 linked to the common stock of Citigroup Inc., 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 knock-out level, 90% of the initial share price.

If a knock-out event has not occurred, the payout at maturity will be par plus 500% of the stock return, subject to a minimum payout of par and a maximum return of 42.5%. If a knock-out event has occurred, investors will lose 1% for every 1% that the final share price is less than the initial share price.

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

Issuer:	Credit Suisse AG, London Branch
Issue:	Capped knock-out notes
Underlying stock:	Citigroup Inc.
Amount:	$5 million
Maturity:	April 2, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price is at least 90% of initial share price, par plus 5 times stock return, subject to minimum payout of par and maximum return of 42.5%; otherwise, 1% loss for every 1% that final share price is less than initial share price
Initial share price:	$44.35
Final share price:	Average of closing share prices on five consecutive valuation days ending March 28, 2024
Knock-out level:	$39.92, 90% of initial share price
Pricing date:	March 30
Settlement date:	April 2
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	0.5%
Cusip:	22551NWW4

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