New Issue: Credit Suisse prices $12.78 million callable contingent income securities on indexes

By Wendy Van Sickle

Columbus, Ohio, Dec. 17 – Credit Suisse AG, London Branch sold $12.78 million of callable contingent income securities due Dec. 14, 2023 tied to the worst performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at the rate of 7.3% per year if each index closes at or above its coupon threshold level, 65% of its initial level, on the related determination date.

The notes will be callable at par plus any coupon due on any quarterly observation date.

If the notes are not called and each index finishes at or above its coupon threshold, the payout at maturity will be par plus the final coupon.

If the worst performer falls below the coupon threshold but finishes at or above its 65% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.

Credit Suisse Securities (USA) LLC is the agent Morgan Stanley Smith Barney LLC as distributor.

Issuer:	Credit Suisse AG, London Branch
Issue:	Callable contingent income securities
Underlying indexes:	Euro Stoxx 50 index, S&P 500 index, Russell 2000 index
Amount:	$12,781,000
Maturity:	Dec. 14, 2023
Coupon:	7.3% per year, payable quarterly if each index closes at or above its coupon threshold level on the related determination date
Price:	Par
Payout at maturity:	Par plus final coupon if each index finishes at or above coupon threshold; if the worst performer declines below coupon threshold but finishes at or above downside threshold, par; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
Call option:	At par plus any coupon due on any quarterly observation date
Initial levels:	4,199.16 for Stoxx, 2,211.806 for Russell, 4,712.02 for S&P
Coupon threshold levels:	2,729.45 for Stoxx, 1,437.674 for Russell, 3,062.81 for S&P; 65% of initial levels
Downside threshold levels:	2,729.45 for Stoxx, 1,437.674 for Russell, 3,062.81 for S&P; 65% of initial levels
Pricing date:	Dec. 10
Settlement date:	Dec. 15
Agent:	Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC as distributor
Fees:	2%
Cusip:	22553PAF6

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