New Issue: Credit Suisse sells $15.53 million market-linked step-up notes on S&P

By Sarah Lizee

Olympia, Wash., July 3 – Credit Suisse AG, London Branch priced $15,533,830 of 0% market-linked step-up notes due June 30, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up level – 127% of the initial level – the payout at maturity will be par of $10 plus the index gain.

If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 27%.

Investors will receive par if the index declines by up to 15% and will be exposed to any losses beyond 15%.

BofA Merrill Lynch is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Market-linked step-up notes
Underlying index:	S&P 500
Amount:	$15,533,830
Maturity:	June 30, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index gains by more than 27%, par plus return; if index gains by up to 27%, par plus 27%; par if index falls by up to 15%; exposure to losses beyond 15%
Initial level:	2,716.31
Step-up value:	3,449.71, 127% of initial level
Pricing date:	June 28
Settlement date:	July 6
Underwriter:	BofA Merrill Lynch
Fees:	2.5%
Cusip:	22548Y587

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