New Issue: Credit Suisse sells $2.5 million dual directional buffered notes on S&P

By Taylor Fox

New York, Aug. 20 – Credit Suisse AG, London Branch priced $2.5 million of 0% dual directional buffered notes due April 11, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par plus the gain of the index, capped at par plus 10%.

If the index falls by up to 14.5%, the payout will be par plus the absolute value of the return of the index.

Otherwise, investors will lose 1.16959% for each 1% loss of the index beyond the 14.5% buffer.

Credit Suisse Securities (USA) LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

Issuer:	Credit Suisse AG, London Branch
Issue:	Dual directional buffered performance notes
Underlying index:	S&P 500 index
Amount:	$2.5 million
Maturity:	April 11, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes above the initial level, par plus the gain of the index, capped at par plus 10%; if the index falls by up to 14.5%, par plus absolute value of the return of the index; otherwise, 1.16959% loss for each 1% loss of the index beyond the buffer
Initial index level:	3,830.17
Buffer level:	3,274.80; 85.5% of initial level
Pricing date:	Feb. 4
Settlement date:	Feb. 11
Agent:	Credit Suisse Securities (USA) LLC
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	0.25%
Cusip:	22552XBM4

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