Obbligazione Swiss Credit 0% ( XS2027978654 ) in USD

Swiss Credit

100 USD ⇌

Svizzera

XS2027978654 ( in USD )

0%

26/08/2034

Prospetto opuscolo dell'obbligazione Credit Suisse XS2027978654 en USD 0%, scadenza 26/08/2034

10 000 USD

25 000 000 USD

Credit Suisse è stata una grande banca svizzera, fallita nel marzo 2023 e acquisita da UBS.

Un'analisi approfondita di un'obbligazione specifica rivela dettagli significativi su uno strumento finanziario emesso da un'istituzione di rilievo nel panorama bancario globale. L'emittente di questa obbligazione è Credit Suisse, un nome storico nell'industria finanziaria svizzera, fondato nel 1856, che per decenni ha rappresentato un pilastro della banca d'investimento e della gestione patrimoniale a livello internazionale, prima di affrontare significative sfide che hanno portato alla sua acquisizione da parte di UBS Group AG nel marzo 2023, consolidandone le operazioni sotto un'unica entità. L'obbligazione in questione, identificata dal codice ISIN XS2027978654, è denominata in dollari statunitensi (USD) ed è stata emessa dalla Svizzera, la patria dell'emittente. Questo titolo ha una scadenza fissata al 26 agosto 2034, configurandosi come un investimento a medio-lungo termine. Una delle sue caratteristiche più distintive è il tasso d'interesse nominale pari a 0%, il che la classifica come un'obbligazione zero-coupon; per sua natura, un'obbligazione zero-coupon non prevede pagamenti periodici di cedole, e il rendimento per l'investitore deriva tipicamente dalla differenza tra il prezzo di acquisto (generalmente scontato rispetto al valore nominale) e il valore di rimborso alla scadenza (alla pari). Tuttavia, l'attuale quotazione di mercato di questa obbligazione è pari al 100% del suo valore nominale, il che, combinato con un tasso d'interesse dello 0%, implica che, se acquistata al prezzo corrente e detenuta fino alla scadenza, non genererà un rendimento da interessi o da sconto sul prezzo d'acquisto. L'emissione totale ammonta a 25.000.000 USD, con un taglio minimo di acquisto stabilito a 10.000 USD, rendendola accessibile a investitori con un capitale di investimento significativo.

Execution Version
PROHIBITION OF SALES TO EEA RETAIL INVESTORS: The Securities are not intended to be
offered, sold or otherwise made available to and may not be offered, sold or otherwise made available
to any retail investor in the European Economic Area ("EEA Retail Investor"). For these purposes, an
EEA Retail Investor means a person who is one (or more) of: (i) a retail client as defined in point (11)
of Article 4(1) of Directive 2014/65/EU on Markets in Financial Instruments (as may be amended,
varied or replaced from time to time) ("MiFID II"); (ii) a customer within the meaning of Directive
2002/92/EC (as amended or superseded) ("IMD"), where that customer would not qualify as a
professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as
defined in Directive 2003/71/EC (as amended or superseded) (the "Prospectus Directive").
Consequently no key information document required by Regulation (EU) No 1286/2014 (the "PRIIPs
Regulation") for offering or selling the Securities or otherwise making them available to EEA Retail
Investors has been prepared and therefore offering or selling such Securities or otherwise making
them available to any EEA Retail Investor may be unlawful under the PRIIPs Regulation.

Final Terms dated 26 August 2019
Credit Suisse AG, London Branch
Legal Entity Identifier (LEI): ANGGYXNX0JLX3X63JN86
USD 10,000,000 Securities due August 2034
(the "Securities")
Series: SPLB2019-4229
ISIN: XS2027978654
issued pursuant to the Trigger Redeemable and Phoenix Securities Base Prospectus
as part of the Structured Products Programme for the issuance of Notes, Certificates and
Warrants
PART A CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such in the General Conditions and the Product
Conditions (as may be amended and/or supplemented up to, and including, the Issue Date) set forth
in the Base Prospectus dated 12 July 2019, as supplemented on 20 August 2019 and by any further
supplements up to, and including, the later of the Issue Date and the date of listing of the Securities,
which together constitute a base prospectus for the purposes of Directive 2003/71/EC, as amended or
superseded (the "Prospectus Directive"). This document constitutes the Final Terms of the
Securities described herein for the purposes of Article 5.4 of the Prospectus Directive and must be
read in conjunction with such Base Prospectus as so supplemented. A summary of the Securities is
annexed to these Final Terms. Full information on the Issuer and the offer of the Securities is only
available on the basis of the combination of these Final Terms and the Base Prospectus as so
supplemented. Copies of the Base Prospectus and each supplement may be obtained from the
registered office of the Issuer and Agents specified herein.
- 1 -

These Final Terms comprise the final terms for the issue and admission to trading on the regulated
market of the Luxembourg Stock Exchange of the Securities. The Final Terms will be available for
viewing on the website of the Luxembourg Stock Exchange (www.bourse.lu).
1.
Series Number:
SPLB2019-4229
2.
Tranche Number:
Not Applicable
3.
Applicable General Terms and General Note Conditions
Conditions:
4.
Type of Security:
Not Applicable
5.
Settlement Currency:
United States Dollar ("USD")
6.
Institutional:
Applicable
PROVISIONS RELATING TO NOTES Applicable
AND CERTIFICATES
7.
Aggregate Nominal Amount:

(i)
Series:
USD 10,000,000

(ii)
Tranche:
Not Applicable
8.
Issue Price:
67.85 per cent. of the Aggregate Nominal Amount
9.
Specified Denomination:
USD 10,000
10.
Minimum Transferable Number of One Security (of the Specified Denomination) and,
Securities:
thereafter, integral multiples of one Security (of the
Specified Denomination)
11.
Transferable Number of Securities:
Not Applicable
12.
Minimum Trading Lot:
Not Applicable
13.
Issue Date:
26 August 2019
14.
Maturity Date:
26 August 2034
15.
Coupon Basis:
Not Applicable
16.
Redemption/Payment Basis:
Fixed Redemption
17.
Put/Call Options:
Not Applicable
PROVISIONS RELATING TO
Not Applicable
WARRANTS
(Paragraphs 18 to 28 have been intentionally deleted)
PROVISIONS RELATING TO COUPON AMOUNTS
29.
Fixed Rate Provisions (General Not Applicable
Note Condition 4 or General
- 2 -

Certificate Condition 4):
30.
Floating Rate Provisions (General Not Applicable
Note Condition 4 or General
Certificate Condition 4):
31.
Premium Provisions (General Note Not Applicable
Condition 4 or General Certificate
Condition 4):
32.
Other Coupon Provisions (Product Not Applicable
Condition 2):
PROVISIONS RELATING TO REDEMPTION/SETTLEMENT
33.
Redemption Amount or (in the case Fixed Redemption
of Warrants) Settlement Amount
(Product Condition 3):

(i)
Redemption Option
Applicable: 100 per cent.
Percentage:

(ii)
Redemption Performance:
Not Applicable

(iii)
Redemption Amount
Not Applicable
Cap/Floor:

(iv)
Redemption Strike Price:
Not Applicable

(v)
Redemption FX Adjustment:
Not Applicable

(vi)
PPT:
Not Applicable

(vii) Strike:
Not Applicable
34.
Initial Setting Date:
Not Applicable
35.
Initial Averaging Dates:
Not Applicable
36.
Final Fixing Date:
Not Applicable
37.
Averaging Dates:
Not Applicable
38.
Final Price:
Not Applicable
39.
Strike Price:
Not Applicable
40.
Knock-in Provisions:
Not Applicable
41.
Knock-out Provisions:
Not Applicable
42.
Trigger Redemption (Product
Not Applicable
Condition 3(c)):
43.
Lock-in Redemption:
Not Applicable
- 3 -

44.
Single Factor Trigger Redeemable Not Applicable
(Step-Up) / Single Factor Trigger
Redeemable (Star) / Worst of
Trigger Redeemable (Step-Up) /
Worst of Trigger Redeemable
(Star):
45.
Details relating to Instalment Not Applicable
Securities:
46.
Physical Settlement Provisions Not Applicable
(Product Condition 4):
47.
Put Option:
Not Applicable
48.
Call Option:
Not Applicable
49.
Unscheduled Termination Amount:

(i)
Unscheduled Termination at Not Applicable
Par:

(ii)
Minimum Payment Amount:
Not Applicable

(iii)
Deduction for Hedge Costs:
Applicable
50.
Payment Disruption:
Not Applicable
51.
Interest and Currency Rate Applicable
Additional Disruption Event:

Trade Date:
19 August 2019
UNDERLYING ASSETS
52.
List of Underlying Asset(s):
Not Applicable
53.
Equity-linked Securities:
Not Applicable
54.
Equity Index-linked Securities:
Not Applicable
55.
Commodity-linked Securities:
Not Applicable
56.
Commodity Index-linked Securities:
Not Applicable
57.
ETF-linked Securities:
Not Applicable
58.
FX-linked Securities:
Not Applicable
59.
FX Index-linked Securities:
Not Applicable
60.
Inflation Index-linked Securities:
Not Applicable
61.
Interest Rate Index-linked Not Applicable
Securities:
- 4 -

62.
Cash Index-linked Securities:
Not Applicable
63.
Multi-Asset Basket-linked Not Applicable
Securities:
64.
Valuation Time:
Not Applicable
GENERAL PROVISIONS
65.
(i)
Form of Securities:
Registered Securities

(ii)
Global Security:
Applicable

(iii)
NGN Form/Held under the Not Applicable
NSS:

(iv)
Intended to be held in a No
manner which would allow
Eurosystem eligibility:

(v)
The Issuer intends to permit Not Applicable
indirect interests in the
Securities to be held through
CREST Depository Interests
to be issued by the CREST
Depository:
66.
Financial Centre(s):
New York City
67.
Business Centre(s):
New York City
68.
Listing and Admission to Trading:
Application will be made for the Securities to be listed
on the Official List of the Luxembourg Stock Exchange
and admitted to trading on the regulated market of the
Luxembourg Stock Exchange with effect from on or
around the Issue Date, provided, however, no
assurance can be given that such application for
listing and admission to trading will be granted (or, if
granted, will be granted by the Issue Date or any
specific date thereafter).
69.
Security Codes and Ticker

Symbols:

ISIN:
XS2027978654

Common Code:
202797865

Swiss Security Number:
Not Applicable

Telekurs Ticker:
Not Applicable

WKN Number:
Not Applicable
- 5 -

70.
Clearing and Trading:

Clearing System(s) and any Euroclear Bank S.A./N.V. and Clearstream Banking,
relevant identification number(s):
société anonyme
71.
Delivery:
Delivery against payment
72.
Agents:

Calculation Agent:
Credit Suisse International
One Cabot Square
London E14 4QJ

Fiscal Agent:
The Bank of New York Mellon, acting through its
London Branch
One Canada Square
London E14 5AL

Paying Agent(s):
The Bank of New York Mellon, acting through its
London Branch
One Canada Square
London E14 5AL

Additional Agents:
Applicable

Transfer Agent:
The Bank of New York Mellon, acting through its
London Branch
One Canada Square
London E14 5AL

The Bank of New York Mellon S.A./N.V., Luxembourg
Branch
Vertigo Building Polaris
2-4 rue Eugene Ruppert
L-2453 Luxembourg

Registrar:
The Bank of New York Mellon S.A./N.V., Luxembourg
Branch
Vertigo Building Polaris
2-4 rue Eugene Ruppert
L-2453 Luxembourg
73.
Dealer(s):
Credit Suisse International
74.
Specified newspaper for the Not Applicable
purposes of notices to
Securityholders:
75.
871(m) Securities:
The Issuer has determined that the Securities (without
regard to any other transactions) should not be treated
as transactions that are subject to U.S. withholding tax
under section 871(m)
- 6 -

76.
Prohibition of Sales to EEA Retail Applicable see the cover page of these Final Terms
Investors:
77.
Additional Provisions:
Not Applicable
- 7 -

PART B OTHER INFORMATION
Interests of Natural and Legal Persons involved in the Issue
So far as the Issuer is aware, no person involved in the issue of the Securities has an interest material
to the issue, save for any fees payable to the distributors.
The Dealer will pay a fee to the distributors in connection with the issue of up to 7.50 per cent. of the
Specified Denomination per Security upfront.
REASONS FOR THE ISSUE, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES
(i)
Reasons for the issue:
See "Use of Proceeds" section in the Base
Prospectus
(ii)
Estimated net proceeds:
USD 9,993,000
(iii)
Estimated total expenses:
USD 7,000
Rating

Applicable
The Securities have been rated "A" by Fitch.
"A" by Fitch: An "A" rating denotes expectations of low default risk. The capacity for payment of
financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to
adverse business or economic conditions than is the case for higher ratings.
The rating is by a registered rating agency established in the EU.

- 8 -

Signed on behalf of the Issuer:

By: _____________________
Duly authorised

By: _____________________
Duly authorised

351140030/Ashurst(MARBOU)/FY

- 9 -

SUMMARY OF THE SECURITIES
Summaries are made up of disclosure requirements known as "Elements". These Elements are
numbered in sections A E (A.1 E.7).
This Summary contains all the Elements required to be included in a summary for these types of
Securities and the relevant Issuer. Because some Elements are not required to be addressed, there
may be gaps in the numbering sequence of the Elements.
Even though an Element may be required to be inserted in the summary because of the type of
Securities and Issuer, it is possible that no relevant information can be given regarding such Element.
In this case a short description of the Element is included in the summary and marked as "Not
applicable".
Section A Introduction and Warnings
A.1
Introduction and
This Summary should be read as an introduction to the Base
Warnings:
Prospectus. Any decision to invest in Securities should be based on
consideration of the Base Prospectus as a whole by the investor.
Where a claim relating to the information contained in the Base
Prospectus is brought before a court, the plaintiff investor might, under
the national legislation of the relevant Member State, have to bear the
costs of translating the Base Prospectus before the legal proceedings
are initiated.
Civil liability only attaches to those persons who have tabled the
summary including any translation thereof, but only if the summary is
misleading, inaccurate or inconsistent when read together with the other
parts of the Base Prospectus or it does not provide, when read together
with the other parts of the Base Prospectus, key information in order to
aid investors when considering whether to invest in the Securities.
A.2
Consent(s):
Not applicable; the Issuer does not consent to the use of the Base
Prospectus for any subsequent resale of the Securities.
Section B - Issuer
B.1
Legal and
Credit Suisse AG ("CS"), acting through its London Branch
commercial
(the "Issuer").
name of the
Issuer:
B.2
Domicile and
CS is incorporated under Swiss law as a corporation
legal form of the
(Aktiengesellschaft) in Zurich, Switzerland and operates under Swiss
Issuer,
law.
legislation under
which the Issuer
operates and
country of
incorporation of
Issuer:
- 10 -