New Issue: Credit Suisse prices $3.65 million knock-out notes on Bristol-Myers

By Marisa Wong

Morgantown, W.Va., Feb. 10 – Credit Suisse AG, London Branch priced $3.65 million of 0% knock-out notes due Feb. 21, 2018 linked to the common stock of Bristol-Myers Squibb Co., 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 knock-out level, 80% of the initial share price.

If a knock-out event has not occurred, the payout at maturity will be par plus the fixed payment percentage of 12.8%. If knock-out event has occurred, investors will lose 1% for each 1% decline.

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

Issuer:	Credit Suisse AG, London Branch
Issue:	Knock-out notes
Underlying stock:	Bristol-Myers Squibb Co. (NYSE: BMY)
Amount:	$3.65 million
Maturity:	Feb. 21, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 12.8% unless stock finishes below knock-out level, in which case investors will lose 1% for each 1% decline
Initial price:	$50.78
Knock-out price:	$40.62, 80% of initial price
Final price:	Average of closing share prices on five trading days ending Feb. 16, 2018
Pricing date:	Feb. 3
Settlement date:	Feb. 8
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1%
Cusip:	22548QUJ2

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