New Issue: Credit Suisse sells $2.68 million contingent coupon autocallable reverse convertibles on Amazon, ConocoPhillips

By Wendy Van Sickle

Columbus, Ohio, Aug. 19 – Credit Suisse AG, London Branch priced $2.68 million of contingent coupon autocallable reverse convertibles due Aug. 16, 2024 linked to the lowest performing of the shares of Amazon.com, Inc. and ConocoPhillips, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annualized rate of 8% if each stock closes at or above its coupon barrier price, 66.55% of its initial price, on the related observation date, plus any previously unpaid coupon.

The notes will be called at par plus the coupon due if all stocks close at or above their initial prices on any quarterly call observation date.

If all stocks finish at or above their knock-in prices, 66.55% of their initial prices, the payout will be par plus the final coupon. If any stock finishes below its knock-in price, investors will be fully exposed to the losses of the least-performing stock from its initial level, with the proceeds delivered in shares of the least-performing stock or cash at the issuer’s election.

Citigroup Global Markets Inc. is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon autocallable reverse convertibles
Underlying stocks:	Amazon.com, Inc., ConocoPhillips
Amount:	$2.68 million
Maturity:	Aug. 16, 2024
Coupon:	8% per year, payable quarterly if each stock closes at or above its coupon barrier price on the related observation date, plus any previously unpaid coupon
Price:	Par
Payout at maturity:	Par plus the final coupon if no stock finishes below its knock-in price; if any stock finishes below its knock-in price, par plus the decline of the least-performing stock from its initial level, with proceeds delivered in shares of the least-performing stock or cash at the issuer’s option
Call:	At par plus the coupon due if all stocks close at or above their initial prices on any quarterly call observation date
Initial share prices:	$3,341.87 for Amazon, $55.45 for ConocoPhillips
Coupon barrier prices:	$2,224.014485 for Amazon, $36.901975 for ConocoPhillips; 66.55% of initial prices
Knock-in levels:	$2,224.014485 for Amazon, $36.901975 for ConocoPhillips; 66.55% of initial prices
Pricing date:	Aug. 9
Settlement date:	Aug. 12
Agent:	Citigroup Global Markets Inc.
Fees:	3%
Cusip:	22550MVW6

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