New Issue: Credit Suisse sells $748,000 autocallable securities on oil ETF, S&P

By Wendy Van Sickle

Columbus, Ohio, Oct. 24 – Credit Suisse AG, London Branch priced $748,000 of 0% autocallable securities due Oct. 25, 2023 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an annualized redemption premium of 13% if each underlying asset closes at or above its initial level on any annual review date.

If the notes are not called and each underlying asset finishes at or above its knock-in level, 60% of the initial level, the payout at maturity will be par plus the contingent return of 52%. Otherwise, investors will lose 1% for each 1% decline of the least-performing asset.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable securities
Underlying assets:	SPDR S&P Oil & Gas Exploration & Production ETF, S&P 500 index
Amount:	$748,000
Maturity:	Oct. 25, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 52% if each underlying asset finishes at or above its knock-in level; otherwise, 1% loss for each 1% decline of the least-performing asset
Call:	Automatically at par plus annualized redemption premium of 13% if each asset closes at or above its initial level on any annual review date
Initial levels:	$20.56 for ETF, 2,986.2 for index
Knock-in levels:	$12.336 for ETF, 1,791.72 for index; 60% of initial levels
Pricing date:	Oct. 18
Settlement date:	Oct. 25
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2%
Cusip:	22552FYM8

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