New Issue: Credit Suisse prices $650,000 10-year contingent coupon callable notes tied to S&P 500

By Toni Weeks

San Luis Obispo, Calif., April 30 – Credit Suisse AG, London Branch priced $650,000 of contingent coupon callable yield notes due April 30, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6.5% if the index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.

The payout at maturity will be par unless the index finishes below its knock-in level, 60% of its initial level, in which case investors will be fully exposed to the index decline from its initial level.

The notes are callable at par on any interest payment date.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon callable yield notes
Underlying index:	S&P 500
Amount:	$650,000
Maturity:	April 30, 2025
Coupon:	6.5% annualized, payable quarterly if index closes at or above its barrier level on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless index finishes below its knock-in level, in which case par plus index return, with full exposure to losses
Call option:	On any contingent coupon payment date beginning July 30
Initial level:	2,108.92
Barrier level:	1,265.352; 60% of initial level
Pricing date:	April 27
Settlement date:	April 30
Agent:	Credit Suisse Securities (USA) LLC
Fees:	4%
Cusip:	22546VBN5

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