By Angela McDaniels
Tacoma, Wash., Feb. 16 – Credit Suisse AG, London Branch priced $1 million of 0% knock-out notes due Feb. 27, 2017 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final share price is less than the index share price by more than 25%.
If a knock-out event has not occurred, the payout at maturity will be par plus 11.25%. If a knock-out event has occurred, investors will be fully exposed to the fund’s decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Knock-out notes
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $1 million
|
| Maturity: | Feb. 27, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 11.25% unless final share price is less than initial share price by more than 25%, in which case 1% loss for every 1% that fund declines from initial share price
|
| Initial share price: | $54.09
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 16
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 22546VX35
|
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