New Issue: Credit Suisse sells $325,000 return enhanced notes on oil and gas ETF

By Wendy Van Sickle

Columbus, Ohio, Oct. 17 – Credit Suisse AG, London Branch priced $325,000 of 0% return enhanced notes due Oct. 26, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 1.5 times the ETF gain, subject to a maximum return of 49.245%. Investors will be fully exposed to any ETF decline.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.

Issuer:	Credit Suisse AG, London Branch
Issue:	Return enhanced notes
Underlying ETF:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$325,000
Maturity:	Oct. 26, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any ETF gain, with return capped at 49.245%; full exposure to losses
Initial level:	$20.54
Final level:	Average of closing levels on five averaging dates ending Oct. 21, 2020
Pricing date:	Oct. 10
Settlement date:	Oct. 16
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	22551N3G9

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