New Issue: Credit Suisse sells $1.51 million contingent coupon autocallables on three stocks

By William Gullotti

Buffalo, N.Y., July 22 – Credit Suisse AG, London Branch priced $1.51 million of contingent coupon autocallable yield notes due July 24, 2023 linked to the least performing of the stocks of ConocoPhillips, MGM Resorts International and Sanofi, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly contingent coupon at an annual rate of 6.43% if each stock closes at or above its coupon barrier, 55% of its initial level, on the observation date for that period. Payment will include any previously unpaid coupons.

The notes will automatically be called at par plus coupon if each stock closes at or above its call level, 95% of initial level, on any monthly trigger observation date after four months.

The payout at maturity will be par unless any stock finishes below its 55% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.

The agent is Credit Suisse Securities (USA) LLC.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon autocallable yield notes
Underlying stocks:	ConocoPhillips, MGM Resorts International, Sanofi
Amount:	$1.51 million
Maturity:	July 24, 2023
Coupon:	6.43% per year, payable monthly if each stock closes at or above its coupon barrier level on observation date; coupon payments will include any previously unpaid coupons
Price:	Par
Payout at maturity:	Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
Call:	Automatically at par plus coupon if each stock closes at or above call level on any monthly trigger observation date after four months
Initial levels:	$57.67 for ConocoPhillips, $39.97 for MGM Resorts, €87.15 for Sanofi
Call levels:	$54.7865 for ConocoPhillips, $37.9715 for MGM Resorts, €82.7925 for Sanofi; 95% of initial levels
Coupon barriers:	$31.7185 for ConocoPhillips, $21.9835 for MGM Resorts, €47.9325 for Sanofi; 55% of initial levels
Knock-in levels:	$31.7185 for ConocoPhillips, $21.9835 for MGM Resorts, €47.9325 for Sanofi; 55% of initial levels
Strike date:	July 14
Pricing date:	July 15
Settlement date:	July 22
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.7%
Cusip:	22552XQR7

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