New Issue: Credit Suisse prices $1.32 million of knock-out notes on SPDR S&P Bank

By Devika Patel

Knoxville, Tenn., March 16 – Credit Suisse AG, London Branch, priced $1.32 million of 0% knock-out notes due March 29, 2017 linked to the SPDR S&P Bank exchange-traded fund trust, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event will occur if the fund’s final level is less than the $30.99 initial level by more than 22%.

If a knock-out event has not occurred, the payout at maturity will be par plus 10%. If a knock-out event has occurred, investors will be fully exposed to the fund’s decline.

J.P. Morgan Securities LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Knock-out notes
Underlying fund:	SPDR S&P Bank ETF
Amount:	$1,315,000
Maturity:	March 29, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 10% unless final fund level is less than initial level by more than 22%, in which case 1% loss for every 1% that fund declines from initial level
Initial level:	$30.99
Final index level:	Average of fund’s closing levels on the five trading days ending March 24, 2017
Pricing date:	March 11
Settlement date:	March 16
Agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	22546VYX8

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