New Issue: Credit Suisse sells $900,000 buffered notes due 2020 tied to BofA stock

By Sarah Lizee

Olympia, Wash., July 19 – Credit Suisse AG, London Branch priced $900,000 of 0% buffered notes due July 31, 2020 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.

If the final share price is greater than or equal to 84.75% of the initial share price, the payout at maturity will be par plus 8%. Otherwise, investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

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

Issuer:	Credit Suisse AG, London Branch
Issue:	Buffered notes
Underlying stock:	Bank of America Corp.
Amount:	$900,000
Maturity:	July 31, 2020
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the final price is greater than or equal to the buffer level, par plus 8%; otherwise, investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent
Initial price:	$28.99
Buffer level:	$24.57, 84.75% of initial price
Final price:	Average of closing share prices on five trading days ending July 28, 2020
Pricing date:	July 17
Settlement date:	July 22
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	22549JU81

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