New Issue: Credit Suisse sells $1.04 million dual direction knock-out notes on fund

By Susanna Moon

Chicago, March 8 – Credit Suisse AG, London Branch priced $1.o4 million of 0% dual directional capped knock-out notes due Feb. 20, 2020 linked to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund finishes at or above its initial level, the payout at maturity will be par plus the gain, up to a maximum return of 33.2%.

If the fund falls by up to 15%, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any 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 fund:	SPDR S&P Regional Banking ETF
Amount:	$1,039,000
Maturity:	Feb. 20, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If fund gains, par plus return, capped at 33.2%; if fund falls by 15% or less, par plus absolute return; otherwise, 1% loss per 1% decline
Initial level:	$63.10
Barrier level:	85% of initial level
Pricing date:	Feb. 16
Settlement date:	Feb. 22
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.5%
Cusip:	22550WEU7

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