New Issue: Credit Suisse sells $2.9 million dual directional capped knock-out notes on S&P

By Kiku Steinfeld

Chicago, Jan 13 – Credit Suisse AG, London Branch, priced $2.9 million of 0% dual directional capped knock-out notes due Jan. 5, 2023 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, up to a maximum payout of 7%.

If the index falls but finishes at or above the 80.5% knock-out level, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

J.P. Morgan Securities LLC is the placement agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Dual directional capped knock-out notes
Underlying index:	S&P 500 index
Amount:	$2,895,000
Maturity:	Jan. 5, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus index return, capped at 7%; if index declines by 19.5% or less, par plus absolute value of return; otherwise, full exposure to any losses
Initial level:	4620.64
Knock-out level:	3719.62; 80.5% of initial index level
Pricing date:	Dec. 17
Settlement date:	Dec. 22
Placement agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	22553PCD9

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