New Issue: Credit Suisse sells $1.6 million contingent coupon autocallable yield notes on three ETFs

By Wendy Van Sickle

Columbus, Ohio, March 9 – Credit Suisse AG, London Branch, priced $1.6 million of contingent coupon autocallable yield notes due March 1, 2023 linked to the least performing of the ARK Fintech Innovation ETF, the ARK Innovation ETF and the ARK Genomic Revolution ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent monthly coupon at the rate of 19.5% per year if each asset closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.

The notes will be called at par plus the coupon if each asset closes above its initial level on any monthly trigger observation date after three months.

The payout at maturity will be par unless either asset finishes below its 60% knock-in level, in which case investors will be exposed to the decline of the least-performing asset from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon autocallable yield notes
Underlying assets:	ARK Fintech Innovation ETF, ARK Innovation ETF and ARK Genomic Revolution ETF
Amount:	$1,602,000
Maturity:	March 1, 2023
Coupon:	19.5% per year, payable monthly if each underlying asset closes at or above its coupon barrier level on related observation date
Price:	Par
Payout at maturity:	Par unless either asset finishes below its knock-in level, in which case investors will be exposed to the decline of the least-performing asset from its initial level
Call:	Par plus the coupon if each asset closes above its initial level on any monthly trigger observation date after three months
Initial levels:	$58.54 for ARK Fintech, $139.04 for ARK Innovation, $98.62 for Genomic Revolution
Coupon barrier levels:	$35.124 for ARK Fintech, $83.424 for ARK Innovation, $59.172 for Genomic Revolution, or 60% of initial levels
Knock-in levels:	$35.124 for ARK Fintech, $83.424 for ARK Innovation, $59.172 for Genomic Revolution, or 60% of initial levels
Pricing date:	Feb. 24
Settlement date:	March 1
Agent:	Credit Suisse Securities (USA) LLC
Fees:	0.65%
Cusip:	22552XDS9

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