New Issue: Credit Suisse sells $2.7 million knock-out notes tied to S&P

By Sarah Lizee

Olympia, Wash., March 18 – Credit Suisse AG, London Branch priced $2.7 million of 0% knock-out notes due March 16, 2022 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 the knock-out level, 76% of the initial index level.

If a knock-out event has not occurred, the payout at maturity will be par plus the return of the index.

If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is below 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
Amount:	$2.7 million
Maturity:	March 16, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus index return if index finishes above 76% of initial level; if index falls below knock-out level, 1% loss for every 1% that final index level is below initial index level
Initial level:	2,741.38
Final level:	Average of index’s closing levels on five trading days ending March 11, 2022
Knock-out level:	2,083.45, 76% of initial index level
Pricing date:	March 11
Settlement date:	March 16
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.5%
Cusip:	22551NV78

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