New Issue: Credit Suisse prices $6.63 million knock-out notes linked to S&P GSCI Commodity

By Angela McDaniels

Tacoma, Wash., May 11 - Credit Suisse AG, Nassau Branch priced $6.63 million of 0% index knock-out notes due May 19, 2011 linked to the S&P GSCI Commodity Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes below the knock-out level - 80% of the initial level - on any day during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative. If a knock-out event has not occurred, the payout will be par plus the greater of 5% and the index return.

In both cases, the payout is subject to a maximum return of 17%.

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

Issuer:	Credit Suisse AG, Nassau Branch
Issue:	Index knock-out notes
Underlying index:	S&P GSCI Commodity Index Excess Return
Amount:	$6,633,000
Maturity:	May 19, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	If index closes below 80% of initial level on any day during life of notes, par plus index return; otherwise, par plus greater of 5% and index return; return capped at 17% in either case
Initial index level:	409.3649
Final index level:	Average of index's closing levels on the five consecutive trading days ending May 16, 2011
Pricing date:	May 7
Settlement date:	May 19
Agents:	J.P. Morgan Securities Inc. and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	22546EVE1

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