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Published on 12/12/2017 in the Prospect News Structured Products Daily.

New Issue: Credit Suisse sells $838,000 8% contingent rate autocall reverse converts on Alexion

By Susanna Moon

Chicago, Dec. 12 – Credit Suisse AG, London Branch priced $838,000 of contingent coupon autocallable reverse convertible securities due March 1, 2019 linked to Alexion Pharmaceuticals, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 8% if the stock closes at or above its 50% coupon barrier on an observation date for that month.

The notes will be called at par if each index closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par unless the shares finish below the initial level and ever closes below the 50% knock-in level any day during the life of the notes, in which case investors will receive a number of Alexion shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:Credit Suisse AG, London Branch
Issue:Contingent coupon autocallable reverse convertible securities
Underlying shares:Alexion Pharmaceuticals, Inc. (Symbol: ALXN)
Amount:$838,000
Maturity:March 1, 2019
Coupon:8% annualized, payable monthly if stock closes at or above 55% coupon barrier on observation date for that month
Price:Par
Payout at maturity:Par unless stock falls and ever closes below 55% knock-in level, in which case 9.2507 Alexion shares
Call:At par if each index closes at or above its initial level on any quarterly call observation date
Initial price:$108.10
Knock-in level:$59.455, 55% of initial level
Pricing date:Nov. 28
Settlement date:Dec. 1
Agent:Credit Suisse Securities (USA) LLC
Fees:2.25% Cusip:

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