New Issue: Credit Suisse prices $220,000 knock-out notes linked to oil & gas ETF

By Angela McDaniels

Tacoma, Wash., Dec. 20 – Credit Suisse AG, London Branch priced $220,000 of 0% knock-out notes due Jan. 4, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, 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 share price by more than 20%.

If a knock-out event has not occurred, the payout at maturity will be par plus 13.8%. If a knock-out event has occurred, investors will lose 1% for every 1% that the final share price is less than the initial share price.

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:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$220,000
Maturity:	Jan. 4, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price is at least 80% of initial share price, par plus 13.8%; otherwise, 1% loss for every 1% that ETF declines from initial share price
Initial share price:	$42.01
Final share price:	Average of ETF’s closing share prices on five trading days ending Dec. 29, 2017
Pricing date:	Dec. 16
Settlement date:	Dec. 21
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	22548QQR9

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