New Issue: Credit Suisse sells $2.78 million contingent coupon callable yield notes on S&P, biotech ETF

By Wendy Van Sickle

Columbus, Ohio, Jan. 30 – Credit Suisse AG, London Branch priced $2.78 million of contingent coupon callable yield notes due Jan. 31, 2023 linked to the least performing of the S&P 500 index and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a semiannual contingent coupon at an annual rate of 9.5% if each asset closes at or above its coupon barrier, 65% of its initial level, on the observation date.

The notes will be callable at par on any contingent payment date.

The payout at maturity will be par unless either asset finishes below its 65% knock-in level, in which case investors will be fully exposed to any losses of the least-performing asset.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon callable yield notes
Underlying assets:	S&P 500 index and SPDR S&P Biotech ETF
Amount:	$2,784,000
Maturity:	Jan. 31, 2023
Coupon:	9.5% per year, payable semiannually if each asset closes at or above its barrier level on observation date
Price:	Par
Payout at maturity:	Par unless either asset finishes below knock-in level, in which case full exposure to any losses of the least-performing asset
Call:	Callable at par on any contingent payment date
Initial levels:	3,295.47 for S&P, $90.75 for ETF
Barrier/knock-in levels:	2,142.0555 for S&P, $58.9875 for ETF; 65% of initial levels
Pricing date:	Jan. 24
Settlement date:	Jan. 31
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1.5%
Cusip:	22551NHC3

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