New Issue: Credit Suisse prices $5.64 million buffered PLUS tied to S&P 500

By William Gullotti

Buffalo, N.Y., May 18 – Credit Suisse AG, London Branch priced $5.64 million of 0% buffered Performance Leveraged Upside Securities due May 3, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 200% of the index return, up to $11.885 per $10 PLUS. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

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

Issuer:	Credit Suisse AG, London Branch
Issue:	Buffered Performance Leveraged Upside Securities
Underlying index:	S&P 500 index
Amount:	$5.64 million
Maturity:	May 3, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index return is positive, the payout at maturity will be par plus 200% of the index return, capped at 18.85%; investors will receive par if the index declines by 10% or less; otherwise, 1% loss for every 1% decline beyond 10%.
Initial level:	4,023.89
Buffer level:	3,621.5; 90% of initial level
Pricing date:	May 13
Settlement date:	May 18
Agents:	Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC as distributor
Fees:	1.69%
Cusip:	22552J583

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