By Wendy Van Sickle
Columbus, Ohio, March 23 – Credit Suisse AG, London Branch priced $1.83 million of 0% knock-out notes due April 5, 2017 linked to the Euro Stoxx 50 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 the initial level by more than the knock-out buffer of 15%.
If a knock-out event has not occurred, the payout at maturity will be par plus the fixed payment percentage of 10.6%. 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.
The final index level will be the average of the index’s closing levels on the five trading days ending March 31, 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 index: | Euro Stoxx 50
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Amount: | $1.83 million
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Maturity: | April 5, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | $1,106, unless final index level is less than initial level by more than 15%, in which case 1% loss for every 1% that index declines from initial level
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Initial level: | 3,059.77
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Final index level: | Average of index’s closing levels on the five trading days ending March 31, 2017
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Pricing date: | March 18
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Settlement date: | March 23
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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: | 22546VZ82
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