New Issue: Credit Suisse sells $2.75 million notes on equally-weighted commodity basket

By William Gullotti

Buffalo, N.Y., May 11 – Credit Suisse AG, London Branch priced $2.75 million of 0% commodity-linked partial principal at risk securities due Nov. 9, 2023 linked to the performance of an equally-weighted basket of eight commodities, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of West Texas Intermediate light sweet crude oil, Brent crude oil, natural gas futures, corn, soybeans, wheat, copper and zinc.

The payout at maturity will be par plus the basket return, subject to a minimum payout at 95% of par.

Credit Suisse Securities (USA) LLC is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.

Issuer:	Credit Suisse AG, London Branch
Issue:	Notes
Underlying assets:	West Texas Intermediate light sweet crude oil, Brent crude oil, natural gas futures, corn, soybeans, wheat, copper, zinc; equal weights
Amount:	$2.75 million
Maturity:	Nov. 9, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus basket return; floor at 95% of par
Initial prices:	$107.81 for WTI, $110.14 for Brent, $8.415 for natural gas, $794.25 for corn, $1,640.50 for soybeans, $1,076.50 for wheat, $9,474.00 for copper, $3,955.00 for zinc
Strike date:	May 4
Pricing date:	May 6
Settlement date:	May 11
Underwriter:	Credit Suisse Securities (USA) LLC
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	1.25%
Cusip:	22553PW54

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