New Issue: Credit Suisse sells $1 million knock-out notes on PowerShares QQQ, Financial Select

By Wendy Van Sickle

Columbus, Ohio, May 11 – Credit Suisse AG, London Branch priced $1 million of 0% knock-out notes due May 24, 2019 linked to the PowerShares QQQ Trust, series 1, and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange.

If each ETF closes at or above 75% of its initial level each day during the life of the notes, the payout at maturity will be par plus 10.4%.

Otherwise, investors will have 1-to-1 exposure to the final gain or loss of the lesser-performing ETF, with a maximum return of 10.4%.

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 ETFs:	PowerShares QQQ Trust, series 1, Financial Select Sector SPDR fund
Amount:	$1 million
Maturity:	May 24, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 10.4% if each ETF closes above knock-out buffer each day during life of notes; otherwise, par plus return of lesser performing ETF, capped at 10.4% gain, with full exposure to loss
Initial share prices:	$166.07 for QQQ, $27.64 for Financial
Knock-out buffers:	$124.55 for QQQ, $20.73 for Financial, 75% of initial levels
Pricing date:	May 8
Settlement date:	May 11
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	22550WTL1

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