New Issue: Credit Suisse prices $8.79 million autocallable securities on S&P 500, oil & gas ETF

By Wendy Van Sickle

Columbus, Ohio, July 26 – Credit Suisse AG, London branch priced $8.79 million of autocallable securities due July 29, 2020 linked to the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an annualized redemption premium of 19% if each underlying asset is at or above its initial level on any annual review date.

If the notes are not called, the payout at maturity will be par plus 10% unless either underlying asset closes below 60% of its initial price, in which case investors will be fully exposed to the decline of the lesser-performing asset.

Credit Suisse is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable securities
Underlying assets:	S&P 500 and SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$8,789,000
Maturity:	July 29, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus contingent return of 10% if knock-in event does not occur; otherwise, exposure to decline of worse-performing asset
Knock-in event:	Either asset finishes below its knock-in level
Call:	At par plus 19% per year if each underlying asset closes at or above its initial level on any annual observation date
Initial levels:	2,175.03 for index and $34.18 for ETF
Knock-in levels:	1,305.018 for index and $20.508 for ETF, 60% of initial levels
Pricing date:	July 22
Settlement date:	July 29
Underwriter:	Credit Suisse Securities (USA) LLC
Fees:	2.6%
Cusip:	22548QBZ7

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