New Issue: Credit Suisse sells $500,000 knock-out notes tied to S&P 500

By Kiku Steinfeld

Chicago, Nov. 22 – Credit Suisse AG, London Branch priced $500,000 of knock-out notes due April 5, 2023 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 80% of the initial level.

If a knock-out event has not occurred, the payout at maturity will be par plus 9%.

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:	$500,000
Maturity:	April 5, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is at least 80% of initial index level, par plus 9%; otherwise, 1% loss for every 1% that final index level is less than initial index level
Initial index level:	4463.12
Knock-out level:	3570.50, 80% of initial level
Pricing date:	March 21
Settlement date:	March 24
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	22553PPY9

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