New Issue: Credit Suisse sells $1.09 million contingent coupon autocallable yield notes on S&P

By Wendy Van Sickle

Columbus, Ohio, Dec. 31 – Credit Suisse AG, London Branch priced $1.09 million of contingent coupon autocallable yield notes due Jan. 8, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annualized rate of 10.4% if the index closes at or above its barrier level, 80% of its initial level, on a related observation date, in which event any previously unpaid coupon will also be paid.

The notes will be called at par if the index closes above its initial level on any quarterly autocall observation date.

The payout at maturity will be par unless the index finishes below its 80% knock-in, in which case investors will be fully exposed to any losses.

J.P. Morgan is the placement agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon autocallable yield notes
Underlying index:	S&P 500
Amount:	$1,085,000
Maturity:	Jan. 8, 2020
Coupon:	10.4% per year, payable quarterly if index closes at or above its coupon barrier level on observation date, in which case any prior unpaid coupon will also be paid
Price:	Par
Payout at maturity:	Par unless index finishes below knock-in level, in which case full exposure to any losses
Call:	At par if index closes above initial level on any quarterly autocall observation date
Initial level:	2,416.62
Barrier level:	1,933.3; 80% of initial level
Knock-in levels:	1,933.3; 80% of initial level
Pricing date:	Dec. 21
Settlement date:	Dec. 27
Placement agent:	J.P. Morgan
Fees:	1%
Cusip:	22551LQM5

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