New Issue: Credit Suisse sells $750,000 contingent coupon callable yield notes on ETFs

By Wendy Van Sickle

Columbus, Ohio, Oct. 21 – Credit Suisse AG, London Branch priced $750,000 of contingent coupon callable yield notes due July 30, 2024 linked to the least performing of the Industrial Select Sector SPDR fund, the Energy Select Sector SPDR fund and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at an annual rate of 7.4% if each fund closes at or above its coupon barrier, 70% of its initial price, on the observation date for that period.

Credit Suisse may redeem the notes at par plus the coupon on any quarterly early redemption date after six months.

The payout at maturity will be par unless any fund finishes below its 60% knock-in price, in which case investors will be fully exposed to any losses of the least-performing fund.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon callable yield notes
Underlying ETFs:	Industrial Select Sector SPDR fund, Energy Select Sector SPDR fund and Financial Select Sector SPDR fund
Amount:	$750,000
Maturity:	July 30, 2024
Coupon:	7.4% per year, payable quarterly if each fund closes at or above its coupon barrier on the related observation date
Price:	Par
Payout at maturity:	Par unless any fund finishes below its knock-in price, in which case full exposure to the losses of the least-performing fund
Call option:	At par plus coupon on any quarterly early redemption date after six months
Initial prices:	$49.26 for Energy Select, $102.99 for Industrial Select Energy Selecting and $36.46 for Financial Select
Coupon barrier prices:	$34.482 for Energy Select, $72.093 for Industrial Select Energy Selecting and $25.552 for Financial Select, 70% of initial prices
Knock-in prices:	$29.556 for Energy Select, $61.794 for Industrial Select Energy Selecting and $21.876 for Financial Select, 60% of initial prices
Pricing date:	July 27
Settlement date:	July 30
Agent:	Credit Suisse Securities (USA) LLC
Fees:	0.75%
Cusip:	22552XRT2

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