By Marisa Wong
Morgantown, W.Va., Oct. 19 – Credit Suisse AG, London Branch priced $670,000 of 0% knock-out notes due Oct. 30, 2019 linked to the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange.
A knock-out event will occur if the final share price is less than 80% of the initial share price.
If a knock-out event has not occurred and the ETF return is zero or positive, the payout at maturity will be par plus 10.5%.
If a knock-out event has not occurred and the ETF return is negative, the payout will be par.
If a knock-out event has occurred, investors will be fully exposed to the ETF’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 ETF: | Technology Select Sector SPDR fund
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| Amount: | $670,000
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| Maturity: | Oct. 30, 2019
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If ETF return is zero or positive, par plus 10.5%; if ETF return is negative but ETF finishes at or above knock-out price, par; otherwise, full exposure to ETF’s decline
|
| Initial price: | $70.83
|
| Knock-out price: | $56.66, 80% of initial price
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| Final price: | Average of ETF’s closing share prices on five trading days ending Oct. 25, 2019
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| Pricing date: | Oct. 12
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| Settlement date: | Oct. 17
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 22551LF88
|
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