New Issue: Credit Suisse sells $630,000 contingent coupon autocallable yield notes on ETFs

By Sarah Lizee

Olympia, Wash., Dec. 4 – Credit Suisse AG, London Branch priced $630,000 of contingent coupon autocallable yield notes due Nov. 30, 2022 linked to the lesser performing of the Technology 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 8.75% if each fund closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.

The notes will be automatically called at par if each fund closes at or above 95% of its initial level on any quarterly trigger observation date starting on May 24, 2019.

The payout at maturity will be par unless either fund finishes below its initial level and either fund ever closes below its 65% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses of the lesser performing fund.

Incapital LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon autocallable yield notes
Underlying funds:	Technology Select Sector SPDR fund, Energy Select Sector SPDR fund and Financial Select Sector SPDR fund
Amount:	$630,000
Maturity:	Nov. 30, 2022
Coupon:	8.75% per year, payable quarterly if each fund closes at or above its coupon barrier on the quarterly observation date
Price:	Par
Payout at maturity:	Par unless either fund finishes below initial level and ever closes below its knock-in level during the life of the notes, in which case full exposure to the losses of the lesser performing fund
Call:	Starting May 24, 2019, automatically at par if each fund closes at or above 95% of its initial level on any quarterly trigger observation date
Initial prices:	$65.66 for technology fund, $64.69 for energy fund, $26.55 for financial fund
Coupon barriers/knock-ins:	$42.679 for technology fund, $42.0485 for energy fund, $17.2575 for financial fund; 65% of initial levels
Pricing date:	Nov. 27
Settlement date:	Nov. 30
Agent:	Incapital LLC
Fees:	4%
Cusip:	22551LKB5

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