New Issue: Credit Suisse sells $100,000 dual directional capped knock-out notes on Euro Stoxx

By Wendy Van Sickle

Columbus, Ohio, Aug. 21 – Credit Suisse AG, London Branch priced $100,000 of 0% dual directional capped knock-out notes due Sept. 2, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain, capped at 7%.

If the index falls but a knock-out event has not occurred, the payout will be par plus the absolute value of the index return. A knock-out event occurs if the final index level is less than the knock-out level, 82% of the initial level.

Otherwise, the payout will be par plus the index return with full exposure to losses.

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

Issuer:	Credit Suisse AG, London Branch
Issue:	Dual directional capped knock-out notes
Underlying index:	Euro Stoxx 50 index
Amount:	$100,000
Maturity:	Sept. 2, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at 7%; if index falls by up to 18%, par plus the absolute value of the index return; otherwise, par plus the index return with full exposure to losses
Initial level:	3,329.08
Knock-out level:	2,729.85, 82% of initial level
Final level:	Average of index closing levels on each of five trading days ending Aug. 28, 2020
Pricing date:	Aug. 16
Settlement date:	Aug. 21
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	22552FTH5

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