New Issue: Credit Suisse sells $110,000 contingent coupon autocallable yield notes on three funds

By Wendy Van Sickle

Columbus, Ohio, Dec. 4 – Credit Suisse AG, London Branch priced $110,000 of contingent coupon autocallable yield notes due Nov. 29, 2021 linked to the least performing of three exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.

The underliers are the Energy Select Sector SPDR fund, the Utilities Select Sector SPDR fund and the Technology Select Sector SPDR fund.

Contingent coupons are payable quarterly at an annual rate of 7.35% if each asset closes above its coupon barrier, 70% of its initial level, on the related observation date.

The notes will be called at par if the shares of the least performing asset close at or above its initial price on any quarterly trigger observation date after six months.

The payout at maturity will be par unless any of the assets finishes below its 60% knock-in level, in which case investors will be fully exposed to the losses of the worst performing underlying.

Incapital LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon autocallable yield notes
Underlying assets:	Energy Select Sector SPDR fund, Utilities Select Sector SPDR fund and Technology Select Sector SPDR fund
Amount:	$110,000
Maturity:	Nov. 29, 2021
Coupon:	7.35% per year, payable quarterly if each asset closes above coupon barrier on observation date
Price:	Par
Payout at maturity:	Par unless any asset finishes below knock-in price, in which case full exposure to losses of worst performing underlying
Call:	At par plus the coupon if all shares close at or above initial share price on any quarterly trigger observation date after six months
Initial prices:	$59.89 for energy fund, $62.79 for utilities fund, $87.85 for technology fund
Coupon barriers:	$41.923 for energy fund, $43.953 for utilities fund, $61.495 for technology fund; 70% of initial levels
Knock-in levels:	$35.934 for energy fund, $37.674 for utilities fund, $52.71 for technology fund; 60% of initial levels
Pricing date:	Nov. 25
Settlement date:	Nov. 29
Agent:	Incapital LLC
Fees:	2.75%
Cusip:	22551N7E0

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