By Jennifer Chiou
New York, June 26 – Credit Suisse AG, London Branch priced $10 million of 0% knock-out notes due June 29, 2016 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the final index level closes down by more than the 15% knock-out buffer amount.
If a knock-out event has not occurred, the payout at maturity will be par plus the greater of any index gain and the contingent minimum return of 8.6%.
Otherwise, investors will receive 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: | Knock-out notes
|
| Underlying index: | Euro Stoxx Banks
|
| Amount: | $10 million
|
| Maturity: | June 29, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index does not finish below knock-in level, par plus greater of any index gain and 8.6%; otherwise, par plus return with full exposure to losses
|
| Initial level: | 151.32
|
| Knock-in level: | 128.622, 85% of initial level
|
| Pricing date: | June 24
|
| Settlement date: | June 27
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.5%
|
| Cusip: | 22547QPN0
|
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