New Issue: Credit Suisse prices $1.22 million digital plus barrier notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, July 5 – Credit Suisse AG, London Branch priced $1.22 million of 0% digital plus barrier notes due July 1, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus the greater of the index return and the fixed payment percentage of 45%.

If the final index level is less than the initial index level but greater than the knock-in level, 70% of the initial index level, the payout will be par.

If the final index level is less than or equal to the knock-in level, investors will be fully exposed to the index’s decline from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Digital plus barrier notes
Underlying index:	S&P 500
Amount:	$1,217,000
Maturity:	July 1, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If final index level is greater than or equal to initial index level, par plus greater of index return and 45%; if index falls by up to 30%, par; otherwise, full exposure to index’s decline from initial level
Initial index level:	2,000.54
Knock-in level:	1,400.378 70% of initial level
Pricing date:	June 27
Settlement date:	June 30
Agent:	Credit Suisse Securities (USA) LLC
Fees:	4.6%
Cusip:	22548QA21

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