New Issue: Credit Suisse sells $10 million capped knock-out notes tied to S&P

By Wendy Van Sickle

Columbus, Ohio, April 1 – Credit Suisse AG, London Branch priced $10 million of 0% capped knock-out notes due April 1, 2025 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 90% of the initial level.

If a knock-out event has not occurred, the payout at maturity will be par plus 500% of the index return, subject to a minimum payout of par and a maximum payout of par plus 90%.

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:	Capped knock-out notes
Underlying index:	S&P 500
Amount:	$10 million
Maturity:	April 1, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is at least 90% of initial index level, par plus 5 times index return, subject to minimum payout of par and maximum payout of par plus 90%; otherwise, 1% loss for every 1% that final index level is less than initial index level
Initial index level:	2,566.85
Knock-out level:	2,310.17, 90% of initial level
Final index level:	Average of index’s closing levels on five trading days ending March 27, 2025
Pricing date:	March 27
Settlement date:	April 1
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	0.65%
Cusip:	22551NWM4

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