New Issue: Credit Suisse sells $9.05 million buffered return enhanced notes on S&P

By Marisa Wong

Morgantown, W.Va., Oct. 22 – Credit Suisse AG, London Branch priced $9.05 million of 0% buffered return enhanced notes due April 16, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus double the index gain, capped at par plus 11.02%. If the index declines by 20% or less, the payout will be par. Otherwise, investors will lose 1.25% for every 1% decline beyond 20%.

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

Issuer:	Credit Suisse AG, London Branch
Issue:	Buffered return enhanced notes
Underlying index:	S&P 500 index
Amount:	$9,049,000
Maturity:	April 16, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 2 times any index gain, with return capped at 11.02%; par if the index falls by up to 20%; 1.25% loss for each 1% decline beyond 20%
Initial level:	2,767.13
Final level:	Average of index closing levels on each of five trading days ending April 13, 2020
Pricing date:	Oct. 12
Settlement date:	Oct. 17
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.25%
Cusip:	22551LFF2

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