New Issue: Credit Suisse sells $2.66 million dual directional capped knock-out notes on S&P

By Wendy Van Sickle

Columbus, Ohio, Oct. 17 – Credit Suisse AG, London Branch, priced $2.66 million of 0% dual directional capped knock-out notes due Oct. 28, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par plus the gain, up to a maximum payout of 7%.

If the index falls but finishes at or above the 80% knock-out level, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

J.P. Morgan Securities LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Dual directional capped knock-out notes
Underlying index:	S&P 500
Amount:	$2,655,000
Maturity:	Oct. 28, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus index return, capped at 7%; if index declines by 20% or less, par plus absolute value of return; otherwise, full exposure to any losses
Initial level:	2,970.27
Knock-out level:	2,376.22, 80% of initial level
Pricing date:	Oct. 11
Settlement date:	Oct. 17
Agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	22551N3A2

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