New Issue: Credit Suisse sells $1.65 million knock-out notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Sept. 9 – Credit Suisse AG, London Branch priced $1.65 million of 0% knock-out notes due Sept. 16, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the knock-in level, 85% of its initial level, the payout will be par plus 8.1%.

Otherwise, 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:	$1,645,000
Maturity:	Sept. 16, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above knock-out level, par plus 8.1%; otherwise, 1% loss for each 1% index decline
Initial level:	2,926.46
Knock-out level:	2,487.49, 85% of initial level
Final level:	Average of index closing levels on each of five trading days ending Sept. 11, 2020
Pricing date:	Aug. 30
Settlement date:	Sept. 5
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	22552FUK6

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