New Issue: Credit Suisse prices $1.1 million knock-out notes on banking ETF

By Marisa Wong

Morgantown, W.Va., Feb. 27 – Credit Suisse AG, London Branch priced $1.1 million of 0% knock-out notes due March 7, 2018 linked to the SPDR S&P Regional Banking exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event will occur if the final fund level is less than the initial level by more than 16%.

If a knock-out event has not occurred, the payout at maturity will be par plus 10.5%. If a knock-out event has occurred, investors will lose 1% for every 1% that the final fund level is less than the initial fund level.

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

Issuer:	Credit Suisse AG, London Branch
Issue:	Knock-out notes
Underlying ETF:	SPDR S&P Regional Banking exchange-traded fund
Amount:	$1.1 million
Maturity:	March 7, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If final fund level is at least 84% of initial fund level, par plus 10.5%; otherwise, 1% loss for every 1% that fund declines from initial level
Initial price:	$57.70
Final fund level:	Average of fund’s closing levels on five trading days ending March 2, 2018
Pricing date:	Feb. 17
Settlement date:	Feb. 23
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	22548QVJ1

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