New Issue: Credit Suisse prices $3.32 million contingent coupon Bares on S&P 500

By Marisa Wong

Morgantown, W.Va., Aug. 23 – Credit Suisse AG, London Branch priced $3.32 million of contingent coupon Buffered Accelerated Return Equity Securities due Aug. 24, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at a rate of 6.75% per year unless the index closes below the 88% barrier level on any day during a quarter, in which case no coupon will be paid that quarter or for any subsequent quarter.

The payout at maturity will be par unless the index closes below the 88% knock-in level on any day during the life of the notes, in which case investors will lose 1.1364% for every 1% decline in the index beyond 12%.

Credit Suisse Securities (USA) LLC is the underwriter.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon Buffered Accelerated Return Equity Securities
Underlying index:	S&P 500 index
Amount:	$3,315,000
Maturity:	Aug. 24, 2021
Coupon:	Contingent quarterly coupon at 6.75% per year unless index closes below barrier level on any day during a quarter, in which case no coupon will be paid that quarter or any subsequent quarter
Price:	Par
Payout at maturity:	Par unless index closes below knock-in level on any day during life of notes, in which case 1.1364% loss for every 1% decline beyond 12%
Initial index level:	2,183.87
Barrier/knock-in level:	1,921.8056, 88% of initial level
Pricing date:	Aug. 19
Settlement date:	Aug. 24
Underwriters:	Credit Suisse Securities (USA) LLC
Fees:	None
Cusip:	22548QEB7

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