By Jennifer Chiou
New York, March 10 – Credit Suisse AG, London Branch priced $1.8 million of 0% capped knock-out notes due March 23, 2016 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the final fund level is less than the initial level by more than the 20% knock-out buffer amount.
If a knock-out event does not occur, the payout at maturity will be par plus the fund return, subject to a minimum return of 5% and a maximum return of 27%.
Otherwise, 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 placement agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Capped knock-out notes
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| Underlying fund: | Market Vectors Gold Miners ETF
|
| Amount: | $1.8 million
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| Maturity: | March 23, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund finishes at or above knock-out level, par plus the fund return, subject to a minimum return of 5% and a maximum return of 27%; otherwise, par plus the return with full exposure to losses
|
| Initial index level: | $18.60
|
| Knock-out level: | 80% of initial level
|
| Pricing date: | March 6
|
| Settlement date: | March 11
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 22546V6W1
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