New Issue: Credit Suisse sells $2.82 million contingent coupon autocallable yield notes on stocks

By Kiku Steinfeld

Chicago, Oct. 5 – Credit Suisse AG, London Branch priced $2.82 million of contingent coupon autocallable yield notes due July 14, 2023 linked to the least performing of the stocks of Chewy, Inc., Alphabet Inc. and ViacomCBS Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at an annual rate of 17.6% if each stock closes at or above its coupon barrier, 65% of its initial level, on the observation date for that period. Coupon payments will include any previously unpaid coupons.

The notes will be called at par plus coupon if each stock closes at or above its initial level on any quarterly trigger observation date after six months.

The payout at maturity will be par plus the final coupon unless any stock finishes below its 65% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.

The agent is Credit Suisse Securities (USA) LLC.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon autocallable yield notes
Underlying stocks:	Chewy, Inc., Alphabet Inc. and ViacomCBS Inc.
Amount:	$2,815,000
Maturity:	July 14, 2023
Coupon:	17.6% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date; coupon payment events will include any previously unpaid coupons
Price:	Par
Payout at maturity:	Par plus the final coupon unless any stock finishes below its knock-in level, in which case full exposure to decline of the least-performing stock from its initial level
Call:	Automatically at par plus coupon if each stock closes at or above initial level on any quarterly trigger observation date after six months
Initial levels:	$85.57 for Chewy, $2,510.37 for Alphabet, $42.77 for Viacom
Coupon barriers:	$55.6205 for Chewy, $1,631.7405 for Alphabet, $27.8005 for Viacom; 65% of initial levels
Knock-in levels:	$55.6205 for Chewy, $1,631.7405 for Alphabet, $27.8005 for Viacom; 65% of initial levels
Pricing date:	July 9
Settlement date:	July 14
Agent:	Credit Suisse Securities (USA) LLC
Fees:	0%
Cusip:	22552XPV9

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