By William Gullotti
Buffalo, N.Y., May 24 – Credit Suisse AG, London Branch priced $1.35 million of knock-out notes due June 2, 2023 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 75% of the initial level.
If a knock-out event has not occurred, the payout at maturity will be par plus 9.5%.
If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is less than the initial index level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Knock-out notes
|
| Underlying index: | S&P 500
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| Amount: | $1.35 million
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| Maturity: | June 2, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is at least 75% of initial index level, par plus 9.5%; otherwise, 1% loss for every 1% of index decline from initial level
|
| Initial index level: | 4,008.01
|
| Knock-out level: | 3,006.01; 75% of initial level
|
| Strike date: | May 16
|
| Pricing date: | May 17
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| Settlement date: | May 20
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 0.5%
|
| Cusip: | 22553PY45
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