New Issue: Credit Suisse sells $850,000 digital plus autocallable securities on S&P 500

By Wendy Van Sickle

Columbus, Ohio, July 31 – Credit Suisse AG, London Branch priced $850,000 of 0% digital plus autocallable securities due July 31, 2026 linked to 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 7.25% annualized if the index closes at or above their initial level on an annual review date.

If the notes are not called the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the index return and 25%. If the index falls by up to 25%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the index.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Digital plus autocallable securities
Underlying index:	S&P 500 index
Amount:	$850,000
Maturity:	July 31, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus greater of index return and 25% if index finishes at or above initial level; par if index falls by up to 25%; otherwise, investors will be fully exposed to any decline of index
Call:	Automatically at par plus 7.25% a year if index closes at or above its initial level on an annual review date
Initial level:	3,218.44
Knock-in level:	2,413.83; 75% of initial level
Pricing date:	July 28
Settlement date:	July 31
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.35%
Cusip:	22552WCX1

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