By William Gullotti
Buffalo, N.Y., March 3 – Credit Suisse AG, London Branch priced $6.4 million of knock-out notes due Feb. 29, 2024 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 85.5% of the initial level.
If a knock-out event has not occurred and the index finishes at or above its initial level, the payout at maturity will be par plus the index gain.
If a knock-out event has not occurred but the index declines, the payout at maturity will be par.
If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is less than 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: | $6.4 million
|
| Maturity: | Feb. 29, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes flat or gains, par plus the index return; if the index falls but finishes at or above knock-out level, par; otherwise, 1% loss for every 1% that final index level is less than initial index level
|
| Initial index level: | 4288.7
|
| Knock-out level: | 3,666.84; 85.5% of initial level
|
| Final index level: | Average of index’s closing levels on five trading days ending May 27, 2022
|
| Strike date: | Feb. 24
|
| Pricing date: | Feb. 25
|
| Settlement date: | March 2
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.5%
|
| Cusip: | 22553PLL1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
