New Issue: Credit Suisse prices $9.78 million knock-out notes tied to S&P 500

By Marisa Wong

Morgantown, W.Va., Feb. 10 – Credit Suisse AG, London Branch priced $9.78 million of 0% knock-out notes due May 9, 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 level by more than 15%.

If a knock-out event has not occurred, the payout at maturity will be par plus 7.75%. 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:	$9.78 million
Maturity:	May 9, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is at least 85% of initial index level, par plus 7.75%; otherwise, 1% loss for every 1% that index declines from initial level
Initial index level:	2,297.42
Final index level:	Average of index’s closing levels on five trading days ending May 4, 2018
Pricing date:	Feb. 3
Settlement date:	Feb. 8
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.12%
Cusip:	22548QUG8

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