New Issue: Credit Suisse sells $4.29 million knock-out notes due 2020 on S&P 500

By Sarah Lizee

Olympia, Wash., Oct. 23 – Credit Suisse AG, London Branch priced $4.29 million of 0% knock-out notes due Jan. 23, 2020 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 index finishes below 85% of its initial level.

If a knock-out event has not occurred, the payout at maturity will be par plus 9.45%.

If a knock-out event has occurred, investors will lose 1% for each 1% decline.

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 index
Amount:	$4,293,000
Maturity:	Jan. 23, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If a knock-out event has not occurred, par plus 9.45%; otherwise, 1% loss for each 1% decline.
Initial level:	2,767.78
Knock-out level:	2,352.61, 85% of initial level
Final level:	Average of index closing levels on each of five trading days ending Jan. 17, 2020
Pricing date:	Oct. 19
Settlement date:	Oct. 24
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.12%
Cusip:	22551LGG9

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