New Issue: Credit Suisse sells $10 million 0% annual review notes tied to Google, Morgan Stanley

By Wendy Van Sickle

Columbus, Ohio, Feb. 13 – Credit Suisse AG, London Branch priced $10 million of 0% annual review notes due Feb. 10, 2020 linked to the common stock of Morgan Stanley and the class A common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium of 14.05% if the shares of each stock close at or above its initial level on the annual review date.

The payout at maturity will be par plus a digital return of 28.1% unless the shares of the lowest performing stock finish below the 75% trigger level, in which case investors will be fully exposed to any losses of the lowest performing stock.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

Issuer:	Credit Suisse AG, London Branch
Issue:	Annual review notes
Underlying stocks:	Morgan Stanley and Alphabet Inc.
Amount:	$10 million
Maturity:	Feb. 10, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 28.1% unless shares of the lowest performing stock fall by more than 25%, in which case 1% loss per 1% decline of the lowest performing stock
Call:	At par plus 14.05% if shares of the lowest performing stock close at or above initial level on annual review date
Initial levels:	$54.55 for Morgan Stanley, $1,055.41 for Alphabet
Trigger levels:	$40.91 for Morgan Stanley, $791.56 for Alphabet, 75% of initial levels
Pricing date:	Feb. 8
Settlement date:	Feb. 15
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1.25%
Cusip:	22550WE37

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