New Issue: Credit Suisse prices $1.3 million knock-out notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., May 18 – Credit Suisse AG, London Branch priced $1.3 million of 0% knock-out notes due Nov. 15, 2017 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 initial level by more than 19.4%.

If a knock-out event has not occurred, the payout at maturity will be par plus the index return, subject to a minimum payout of 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 agents.

Issuer:	Credit Suisse AG, London Branch
Issue:	Knock-out notes
Underlying index:	S&P 500
Amount:	$1,298,000
Maturity:	Nov. 15, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If knock-out event has not occurred, par plus index return, subject to minimum payout of par; if knock-out event has occurred, 1% loss for every 1% that final index level is less than initial index level
Knock-out event:	Final index level is less than knock-out level
Initial level:	2,046.61
Final index level: Average of index’s closing levels on the five trading days ending Nov. 10, 2017
Knock-out level:	1,649.56766, 80.6% of initial level
Pricing date:	May 13
Settlement date:	May 18
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.25%
Cusip:	22548Q6K6

© 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.