New Issue: Credit Suisse sells $642,000 contingent coupon autocallable yield notes on ETFs

By Wendy Van Sickle

Columbus, Ohio, Aug. 31 – Credit Suisse AG, London Branch priced $642,000 of contingent coupon autocallable yield notes due Aug. 30, 2021 linked to the lesser performing of the First Trust Dow Jones Internet Index fund, the SPDR S&P Biotech ETF and the iShares Transportation Average ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at an annual rate of 7% if each fund closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.

The notes will be automatically called at par if each fund closes at or above its initial level on any quarterly trigger observation date starting on Feb. 25.

The payout at maturity will be par unless any fund finishes below its initial level and any fund ever closes below its 60% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses of the least performing fund.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon autocallable yield notes
Underlying funds:	First Trust Dow Jones Internet Index fund, SPDR S&P Biotech ETF and iShares Transportation Average ETF
Amount:	$642,000
Maturity:	Aug. 30, 2021
Coupon:	7% per year, payable quarterly if each fund closes at or above its coupon barrier on the quarterly observation date
Price:	Par
Payout at maturity:	Par unless any fund finishes below initial level and ever closes below its knock-in level during the life of the notes, in which case full exposure to the losses of the least performing fund
Call:	Starting Feb. 25, automatically at par if each fund closes at or above its initial level on any quarterly trigger observation date
Initial prices:	$144.86 for First Trust, $98.00 for Biotech ETF, $205.67 for Transportation
Coupon barriers/knock-ins:	$86.916 for First Trust, $58.80 for Biotech ETF, $123.402 for Transportation; 60% of initial levels
Pricing date:	Aug. 27
Settlement date:	Aug. 30
Agent:	Credit Suisse Securities (USA) LLC
Fees:	3%
Cusip:	22551L6L9

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