New Issue: Credit Suisse sells $6.63 million callable contingent income securities on three indexes

By William Gullotti

Buffalo, N.Y., April 22 – Credit Suisse AG, London Branch priced $6.63 million of callable contingent income securities due April 23, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 9.75% if each index closes at or above its coupon barrier level, 70% of the initial level, on the observation date for that period. Previously unpaid coupons, if any, will be automatically included whenever a contingent payment is made.

The notes are callable at par at the option of the issuer on any quarterly early redemption date.

If the notes are not called and each index finishes at or above its 70% barrier level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level.

Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Smith Barney LLC handling distribution.

Issuer:	Credit Suisse AG, London Branch
Issue:	Callable contingent income securities
Underlying indexes:	S&P 500 index, Russell 2000 index, Nasdaq-100 index
Amount:	$6.63 million
Maturity:	April 23, 2024
Coupon:	9.75% annual rate, payable quarterly if each index closes at or above coupon barrier level on observation date for that period; coupon payment events will automatically include any previously unpaid coupons
Price:	Par
Payout at maturity:	If each index finishes at or above barrier level, par plus final coupon; otherwise, 1% loss for each 1% decline of the least-performing index from initial level
Call option:	At par at the option of the issuer on any quarterly early redemption date
Initial levels:	4,462.21 for S&P, 2,030.765 for Russell, 14,210.26 for Nasdaq
Coupon barrier levels:	3,123.55 for S&P, 1,421.536 for Russell, 9,947.18 for Nasdaq; 70% of initial prices
Barrier levels:	3,123.55 for S&P, 1,421.536 for Russell, 9,947.18 for Nasdaq; 70% of initial prices
Pricing date:	April 19
Settlement date:	April 22
Agent:	Credit Suisse Securities (USA) LLC
Distributor:	Morgan Stanley Smith Barney LLC
Fees:	2%
Cusip:	22553PSM2

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