New Issue: Credit Suisse prices $670,000 knock-out notes linked to S&P 500

By Kiku Steinfeld

Chicago, March 2 – Credit Suisse AG, London Branch priced $670,000 of 0% knock-out notes due Sept. 28, 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, 70% of the initial index level.

If a knock-out event has not occurred, the payout at maturity will be par plus 3.8%. 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:	$670,000
Maturity:	Sept. 28, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 3.8% unless final index level is less than knock-out level, in which case 1% loss for every 1% that final index level is below initial index level
Initial level:	4458.58
Final level:	Average of index’s closing levels on five trading days ending Sept. 23, 2022
Knock-out level:	3121.01, 70% of initial index level
Pricing date:	Sept. 10
Settlement date:	Sept. 15
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	22552XUY7

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