New Issue: Credit Suisse sells $5.26 million dual directional trigger PLUS on S&P 500

By William Gullotti

Buffalo, N.Y., July 7 – Credit Suisse AG, London Branch priced $5.26 million of 0% dual directional trigger Performance Leveraged Upside Securities due July 3, 2025 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par plus 200% of the gain, subject to a maximum payout of par plus 38.25%.

If the index falls by up to 20%, the payout will be par plus the absolute value of the index return.

Otherwise, investors will be fully exposed to the decline of the index from its initial level.

Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is the distributor.

Issuer:	Credit Suisse AG, London Branch
Issue:	Dual directional trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$5,259,000
Maturity:	July 3, 2025
Coupon:	0%
Price:	Par or $10
Payout at maturity:	If index gains, par plus 200% of the return, capped at par plus 38.25%; if index falls by up to 20%, par plus absolute return; otherwise, 1% loss per 1% decline from initial level
Initial level:	3,785.38
Trigger level:	3,028.3; 80% of initial level
Pricing date:	June 30
Settlement date:	July 6
Agent:	Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC as distributor
Fees:	3%
Cusip:	22552J831

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