New Issue: Credit Suisse prices $1 million knock-out notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Dec. 5 – Credit Suisse AG, London Branch priced $1 million of 0% knock-out notes due Dec. 4, 2018 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 index level by more than 22.15%.

If a knock-out event has not occurred, the payout at maturity will be par plus the greater of 2% and the index return. 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 agents.

Issuer:	Credit Suisse AG, London Branch
Issue:	Knock-out notes
Underlying index:	S&P 500
Amount:	$1 million
Maturity:	Dec. 4, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is less than initial index level by more than 22.15%, 1% loss for every 1% that final index level is below initial index level; otherwise, par plus greater of index return and 2%
Initial index level:	2,204.66
Final index level: Average of index’s closing levels on five trading days ending Nov. 29, 2018
Pricing date:	Nov. 29
Settlement date:	Dec. 2
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.5%
Cusip:	22548QPT6

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