By William Gullotti
Buffalo, N.Y., Aug. 19 – Credit Suisse AG, London Branch priced $1 million of 0% capped knock-out notes due May 16, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
At maturity, if the index finishes above its initial level, investors will receive the lesser of par plus the return of the index or par plus 30%.
If the index declines, but not beyond 68% of its initial level, investors will receive par.
Otherwise, investors will be fully exposed to the losses of the index.
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
|
| Underlying index: | S&P 500
|
| Amount: | $1 million
|
| Maturity: | May 16, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final index return is flat or positive, par plus the gain of the index capped at 30%; par if index finishes above knock-out level; otherwise, 1% loss for every 1% that final index level is less than initial index level
|
| Initial index level: | 4188.43
|
| Knock-out level: | 2848.13; 68% of initial level
|
| Final index level: | Average of index’s closing levels on five trading days ending May 13, 2024
|
| Pricing date: | May 11
|
| Settlement date: | May 14
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 2%
|
| Cusip: | 22552XL43
|
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