New Issue: Credit Suisse sells $17.66 million contingent income autocalls on three stocks

By Wendy Van Sickle

Columbus, Ohio, Oct. 2 – Credit Suisse AG, London Branch priced $17.66 million of contingent income autocallable securities due Oct. 4, 2022 linked to the worst performing of the common stocks of Dow Inc., Bank of America Corp. and Stanley Black & Decker, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 14.75% if each stock closes at or above its coupon barrier, 60% of its initial level, on the determination date for that period.

The notes will be called at par plus the contingent coupon if each stock closes above its initial level on any quarterly redemption date after six months.

The payout at maturity will be par unless any stock finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses of the worst performing stock.

Credit Suisse International is the agent. Morgan Stanley Smith Barney LLC is the distributor.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent income autocallable securities
Underlying stocks:	Dow Inc., Bank of America Corp. and Stanley Black & Decker, Inc.
Amount:	$17,662,500
Maturity:	Oct. 4, 2022
Coupon:	14.75% per year, payable each quarter if each stock closes at or above coupon barrier on determination date for that period
Price:	Par of $10
Payout at maturity:	If final share price of least performing stock is greater than or equal to downside threshold level, par; otherwise, full exposure to decline of worst performer
Call:	Par plus the contingent coupon if each stock closes above its initial level on any quarterly redemption date after six months
Initial share prices:	$46.57 for Dow, $23.77 for BofA, $161.48 for Black & Decker
Coupon barriers:	$27.94 for Dow, $14.26 for BofA, $96.89 for Black & Decker; 60% of initial share prices
Downside thresholds:	$27.94 for Dow, $14.26 for BofA, $96.89 for Black & Decker; 60% of initial share prices
Pricing date:	Sept. 29
Settlement date:	Oct. 2
Agent:	Credit Suisse International
Distributor:	Morgan Stanley Smith Barney LLC
Fees:	2%
Cusip:	22550X618

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