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Published on 12/5/2020 in the Prospect News Structured Products Daily.

New Issue: Credit Suisse sells $1.08 million contingent coupon callable yield notes on indexes

By Taylor Fox

New York, Dec. 7 – Credit Suisse AG, London Branch priced $1.08 million of contingent coupon callable yield notes due Dec. 5, 2022 linked to the least performing of the Nasdaq-100 index, 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 monthly coupon at an annualized rate of 8.1% if each index closes at or above its coupon barrier, 70% of its initial level, on the related observation date.

The notes may be called in whole, but not in part, at par on any quarterly contingent coupon payment date after six months

The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the lesser-performing index.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:Credit Suisse AG, London Branch
Issue:Contingent coupon callable yield notes
Underlying indexes:Nasdaq-100 index, S&P 500 and Russell 2000
Amount:$1,075,000
Maturity:Dec. 5, 2022
Coupon:8.1% per year, payable monthly if each index closes at or above its coupon barrier on related observation date
Price:Par
Payout at maturity:Par unless either index finishes below its knock-in level, in which case full exposure to any losses of the least-performing index
Call option:In whole at par on any quarterly contingent coupon payment date after six months
Initial levels:12,268.32 for Nasdaq, 3,621.63 for S&P and 1,819.816 for Russell
Coupon barrier levels:8,587.824 for Nasdaq, 2,535.141 for S&P and 1,273.8712 for Russell; 70% of initial levels
Knock-in levels:8,587.824 for Nasdaq, 2,535.141 for S&P and 1,273.8712 for Russell; 70% of initial levels
Pricing date:Nov. 30
Settlement date:Dec. 3
Agent:Credit Suisse Securities (USA) LLC
Fees:0.4%
Cusip:22552WUR4

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