By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – Credit Suisse AG, London Branch priced $2 million of 0% knock-out notes due Oct. 18, 2017 linked to the common stock of Delta Air Lines, Inc., 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 initial price by more than the knock-out buffer of 34%.
If a knock-out event has not occurred, the payout at maturity will be par plus the fixed payment percentage of 10%. If a knock-out event has occurred, investors will lose 1% for every 1% that the final share price is less than the initial price.
The final share price will be the average of the closing prices on the five trading days ending Oct. 13, 2017.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Knock-out notes
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| Underlying stock: | Delta Air Lines, Inc.
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| Amount: | $2 million
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| Maturity: | Oct. 18, 2017
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | $1,100, unless final share price is less than initial price by more than 34%, in which case 1% loss for every 1% that stock declines from initial level
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| Initial share price: | $39.36
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| Final index level: Average of closing prices on the five trading days ending Oct. 13, 2017
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| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank
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| Fees: | 1%
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| Cusip: | 22548QKN4
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