Obligation Swiss Credit 0% ( US22548F6126 ) en USD

Swiss Credit

9.65 % ⇌

Suisse

US22548F6126 ( en USD )

17/09/2025

Prospectus brochure de l'obligation Credit Suisse US22548F6126 en USD 0%, échéance 17/09/2025

1 000 USD

22548F612

N/A

Credit Suisse était une grande banque suisse, active dans la gestion de fortune, l'investissement bancaire et les services financiers, avant sa prise de contrôle par UBS en mars 2023 suite à une crise de confiance.

Cette obligation, identifiée par le code ISIN US22548F6126 et le code CUSIP 22548F612, est émise par Credit Suisse, une institution financière suisse historique dont les activités bancaires et de gestion de fortune ont été marquées par d'importantes restructurations et son acquisition subséquente par UBS, ce qui confère un contexte spécifique à la perception de son risque de crédit sur le marché. De type "obligation", ce titre de créance est libellé en USD et a été émis depuis la Suisse; il est actuellement coté sur le marché à 9,65% de sa valeur nominale, ce qui, combiné à son taux d'intérêt de 0, indique qu'il s'agit d'une obligation à coupon zéro où le rendement pour l'investisseur est généré par la différence entre son prix d'achat décoté et sa valeur de remboursement à l'échéance, fixée au 17 septembre 2025, où elle sera remboursée au pair. La taille minimale d'achat pour ce titre est de 1000 unités de sa valeur nominale; bien que le champ "Fréquence de paiement" indique 2, cette obligation étant à coupon zéro, elle ne verse pas d'intérêts périodiques, le rendement étant réalisé à l'échéance par le remboursement au pair.

424B2 1 dp59716_424b2-u1337.htm FORM 424B2

PRICING SUPPLEMENT No. U1337
Filed Pursuant to Rule 424(b)(2)
Registration Statement Nos. 333-202913 and 333-180300-03
Dated September 11, 2015

Cre dit Suisse AG $ 5 ,0 8 0 ,5 6 0 T rigge r Phoe nix Aut oc a lla ble Opt im iza t ion
Se c urit ie s
Linked to the least performing underlying between the Russell 2000® Index and the EURO STOXX 50® Index due on September
17, 2025
I nve st m e nt De sc ript ion
Trigger Phoenix Autocallable Optimization Securities (the "Securities") are senior, unsecured obligations of Credit Suisse AG, acting
through its London branch ("Credit Suisse" or the "Issuer") linked to the Least Performing Underlying between the Russell 2000®
Index and the EURO STOXX 50® Index (each an "Underlying" and together the "Underlyings"). Credit Suisse will pay you a
quarterly Contingent Coupon payment if the Closing Levels of all the Underlyings on the applicable Observation Date (including the
Final Valuation Date) are equal to or greater than their respective Coupon Barriers. Otherwise, no Contingent Coupon will be
payable with respect to that Observation Date. Credit Suisse will automatically call the Securities prior to maturity if the Closing
Level of each Underlying on any Observation Date (quarterly, beginning after one year) is equal to or greater than its respective
Initial Level. If the Securities are called, Credit Suisse will pay you the principal amount of your Securities plus the Contingent
Coupon payable on the Coupon Payment Date immediately following the applicable Observation Date (the "Automatic Call Date"),
and no further amounts will be owed to you under the Securities. If the Securities are not called prior to maturity and a Trigger
Event does not occur, Credit Suisse will pay you a cash payment at maturity equal to the principal amount of your Securities. If the
Securities are not called prior to maturity and a Trigger Event occurs, Credit Suisse will pay you less than the full principal amount
of your Securities, if anything, resulting in a loss on your principal that is proportionate to the depreciation of the Underlying with
the greatest percentage decline from its Initial Level to its Final Level (the "Least Performing Underlying"). In that case, you will lose
more than 50% and possibly all of your investment. A Trigger Event will be deemed to have occurred if the Final Level of the Least
Performing Underlying is less than its respective Trigger Level. I nve st ing in t he Se c urit ie s involve s signific a nt risk s.
Y ou m a y lose som e or a ll of your inve st m e nt if t he Se c urit ie s a re not c a lle d a nd a T rigge r Eve nt oc c urs.
T he T rigge r Le ve l is obse rve d only on t he Fina l V a lua t ion Da t e a nd t he c ont inge nt re pa ym e nt of princ ipa l
a pplie s only if you hold t he Se c urit ie s t o m a t urit y. T he Se c urit ie s w ill not pa y a Cont inge nt Coupon for a
qua rt e r if t he Closing Le ve l of a ny U nde rlying is be low it s Coupon Ba rrie r on t he a pplic a ble Obse rva t ion
Da t e . Ge ne ra lly, t he highe r t he Cont inge nt Coupon Ra t e on a Se c urit y, t he gre a t e r t he risk of loss on t ha t
Se c urit y. Cre dit Suisse w ill a ut om a t ic a lly c a ll t he Se c urit ie s on a ny Obse rva t ion Da t e a ft e r one ye a r only if
bot h of t he U nde rlyings c lose a t or a bove t he ir re spe c t ive I nit ia l Le ve l on suc h Obse rva t ion Da t e . Any
pa ym e nt on t he Se c urit ie s, inc luding a ny re pa ym e nt of princ ipa l, is subje c t t o t he a bilit y of Cre dit Suisse t o
pa y it s obliga t ions a s t he y be c om e due . I f Cre dit Suisse w e re t o de fa ult on it s obliga t ions, you m a y not
re c e ive a ny a m ount s ow e d t o you unde r t he Se c urit ie s.
Fe a t ure s
K e y Da t e s
Contingent Coupon -- Subject to Automatic Call,
Trade Date
September 11, 2015
Credit Suisse will pay you a quarterly Contingent Coupon
Settlement Date
September 16, 2015
payment if the Closing Level of each Underlying on the
Observation Dates*
Quarterly (callable after 1 year) (see
applicable Observation Date is equal to or greater than its
page 4)
respective Coupon Barrier. Otherwise, no coupon will be
Final Valuation Date*
September 11, 2025
paid for that quarter.
Maturity Date*
September 17, 2025
* Subject to postponement as set forth in the accompanying
Automatically Callable -- Credit Suisse will
product supplement under "Description of the Securities--
automatically call the Securities and Credit Suisse will pay
Postponement of calculation dates."
you the principal amount of your Securities plus the
Contingent Coupon payable for that quarter on the
Coupon Payment Date immediately following the
applicable Observation Date if the Closing Level of each
Underlying on any Observation Date (quarterly, beginning
after one year) is equal to or greater than its respective
Initial Level. If the Securities are not called, investors may
be exposed to the depreciation of the Least Performing
Underlying at maturity.
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Contingent Repayment of Principal Amount at
M a t urit y -- If the Securities have not been called and a
Trigger Event has not occurred, Credit Suisse will pay you
the full principal amount at maturity. If a Trigger Event
occurs, Credit Suisse will pay you less than your principal
amount, if anything, resulting in a loss of your principal
that will be proportionate to the full depreciation of the
Least Performing Underlying from its Initial Level to its
Final Level. The Trigger Level is observed on the Final
Valuation Date and the contingent repayment of your
principal applies only at maturity. Any payment on the
Securities, including any repayment of principal, is subject
to the ability of Credit Suisse to pay its obligations as they
become due.
N OT I CE T O I N V EST ORS: T H E SECU RI T I ES ARE SI GN I FI CAN T LY RI SK I ER T H AN CON V EN T I ON AL DEBT
I N ST RU M EN T S. T H E I SSU ER I S N OT N ECESSARI LY OBLI GAT ED T O PAY T H E FU LL PRI N CI PAL AM OU N T
OF T H E SECU RI T I ES AT M AT U RI T Y , AN D T H E SECU RI T I ES CAN EX POSE Y OU R I N V EST M EN T T O T H E
FU LL DEPRECI AT I ON OF T H E LEAST PERFORM I N G U N DERLY I N G. T H I S M ARK ET RI SK I S I N ADDI T I ON T O
T H E CREDI T RI SK I N H EREN T I N PU RCH ASI N G A DEBT OBLI GAT I ON OF CREDI T SU I SSE. Y OU SH OU LD
N OT PU RCH ASE T H E SECU RI T I ES I F Y OU DO N OT U N DERST AN D OR ARE N OT COM FORT ABLE WI T H T H E
SI GN I FI CAN T RI SK S I N V OLV ED I N I N V EST I N G I N T H E SECU RI T I ES. Y OU SH OU LD CAREFU LLY CON SI DER
T H E RI SK S DESCRI BED U N DER "K EY RI SK S" BEGI N N I N G ON PAGE 8 AN D U N DER "RI SK FACT ORS"
BEGI N N I N G ON PAGE PS-3 OF T H E ACCOM PAN Y I N G PRODU CT SU PPLEM EN T BEFORE PU RCH ASI N G AN Y
SECU RI T I ES. EV EN T S RELAT I N G T O AN Y OF T H OSE RI SK S, OR OT H ER RI SK S AN D U N CERT AI N T I ES,
COU LD ADV ERSELY AFFECT T H E M ARK ET V ALU E OF, AN D T H E RET U RN ON , Y OU R SECU RI T I ES. Y OU
M AY LOSE SOM E OR ALL OF Y OU R I N I T I AL I N V EST M EN T I N T H E SECU RI T I ES. T H E SECU RI T I ES WI LL N OT
BE LI ST ED ON AN Y EX CH AN GE.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the
Securities or passed upon the accuracy or the adequacy of this pricing supplement or the accompanying underlying supplement,
the product supplement, the prospectus supplement and the prospectus. Any representation to the contrary is a criminal offense.
Se c urit y Offe ring
These final terms relate to Securities linked to the Least Performing Underlying between the Russell 2000® Index and the EURO
STOXX 50® Index. The Securities are offered at a minimum investment of 100 Securities at $10.00 per Security (representing a
$1,000 investment), and integral multiples of $10.00 in excess thereof.
Cont inge nt
T rigge r
Coupon
U nde rlyings
T ic k e rs
Coupon Ra t e
I nit ia l Le ve ls
Le ve ls
Ba rrie rs
CU SI P
I SI N
Russell 2000®
RTY
578.896 (50%
752.565 (65%
Index
1157.792
of the Initial
of the Initial
Level)
Level)
9.20% per annum
22548F612 US22548F6126
EURO STOXX
SX5E
3187.94
1593.97 (50%
2072.16 (65%
50® Index
of the Initial
of the Initial
Level)
Level)
Cre dit Suisse c urre nt ly e st im a t e s t he va lue of e a c h $ 1 0 .0 0 princ ipa l a m ount of t he Se c urit ie s on t he T ra de
Da t e is $ 9 .4 4 9 (a s de t e rm ine d by re fe re nc e t o our pric ing m ode ls a nd t he ra t e w e a re c urre nt ly pa ying t o
borrow funds t hrough issua nc e of t he Se c urit ie s (our "int e rna l funding ra t e ")). Se e "K e y Risk s" in t his
pric ing supple m e nt .
Se e "Addit iona l I nform a t ion a bout Cre dit Suisse a nd t he Se c urit ie s" on pa ge 2 . T he Se c urit ie s w ill ha ve t he
t e rm s se t fort h in t he a c c om pa nying produc t supple m e nt , prospe c t us supple m e nt a nd prospe c t us a nd t his
pric ing supple m e nt .
The Securities are not deposit liabilities and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any
other governmental agency of the United States, Switzerland or any other jurisdiction.
Offe ring of Se c urit ie s
Pric e t o Public
U nde rw rit ing
Proc e e ds t o Cre dit
Disc ount a nd
Suisse AG
Com m issions(1)

Total
Per
Total
Per
Total
Per
Security
Security
Security
Securities linked to the least performing index
$5,080,560.00
$10.00
$177,819.60
$0.35
$4,902,740.40
$9.65
®
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between the Russell 2000 Index and the EURO
STOXX 50® Index
(1) UBS Financial Services Inc., which we refer to as UBS, will act as distributor for the Securities. The distributor will receive a fee
from Credit Suisse or one of our affiliates of $0.35 per $10.00 principal amount of Securities. For more detailed information, please
see "Supplemental Plan of Distribution" on the last page of this pricing supplement.
U BS Fina nc ia l Se rvic e s I nc .

1

Addit iona l I nform a t ion a bout Cre dit Suisse a nd t he Se c urit ie s
You should read this pricing supplement together with the underlying supplement dated May 4, 2015, the product supplement
dated May 4, 2015, the prospectus supplement dated May 4, 2015 and the prospectus dated May 4, 2015, relating to our Medium-
Term Notes of which these Securities are a part. You may access these documents on the SEC website at www.sec.gov as follows
(or if such address has changed, by reviewing our filings for the relevant date on the SEC website):

¨
Underlying supplement dated May 4, 2015:
http://www.sec.gov/Archives/edgar/data/1053092/000095010315003505/dp55844_424b2-underlying.htm

¨
Product supplement No. I dated May 4, 2015:
http://www.sec.gov/Archives/edgar/data/1053092/000095010315003534/dp55815_424b2-psno1.htm

¨
Prospectus supplement and Prospectus dated May 4, 2015:
http://www.sec.gov/Archives/edgar/data/1053092/000104746915004333/a2224570z424b2.htm

Our Central Index Key, or CIK, on the SEC website is 1053092. As used in this pricing supplement, the "Company," "we," "us," or
"our" refers to Credit Suisse.

The Securities are senior, unsecured obligations of Credit Suisse and will rank pari passu with all of our other senior unsecured
obligations.

In the event the terms of the Securities described in this pricing supplement differs from, or is inconsistent with, the terms
described in the underlying supplement, product supplement or prospectus supplement, the terms described in this pricing
supplement will control.

This pricing supplement, together with the documents listed above, contains the terms of the Securities and supersedes all other
prior or contemporaneous oral statements as well as any other written materials including preliminary or indicative pricing terms,
fact sheets, correspondence, trade ideas, structures for implementation, sample structures, brochures or other educational materials
of ours. We may, without the consent of the registered holder of the Securities and the owner of any beneficial interest in the
Securities, amend the Securities to conform to its terms as set forth in this pricing supplement and the documents listed above, and
the trustee is authorized to enter into any such amendment without any such consent. You should carefully consider, among other
things, the matters set forth in "Risk Factors" in the product supplement and "Key Risks" in this pricing supplement, "Foreign
Currency Risks" in the accompanying prospectus, and any risk factors we describe in the combined Annual Report on Form 20-F
of Credit Suisse Group AG and us incorporated by reference therein, and any additional risk factors we describe in future filings we
make with the SEC under the Securities Exchange Act of 1934, as amended, as the Securities involve risks not associated with
conventional debt securities. You should consult your investment, legal, tax, accounting and other advisors before deciding to invest
in the Securities.

2

I nve st or Suit a bilit y
T he Se c urit ie s m a y be suit a ble for you if:
T he Se c urit ie s m a y not be suit a ble for you if:
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¨
You fully understand the risks inherent in an investment in
¨
You do not fully understand the risks inherent in an
the Securities, including the risk of loss of your entire initial
investment in the Securities, including the risk of loss of
investment.
your entire initial investment.
¨
You can tolerate a loss of all or a substantial portion of
¨
You seek an investment designed to provide a full return of
your investment and are willing to make an investment that
principal at maturity.
may be exposed to the depreciation of the Least
Performing Underlying.
¨
You cannot tolerate a loss of all or a substantial portion of
your investment, and you are not willing to make an
¨
You understand that your return will be based on the
investment that may be exposed to the depreciation of the
Underlying Return of the Least Performing Underlying, you
Least Performing Underlying.
will not benefit from the performance of any other
Underlying, and you will be fully exposed to the risk of
¨
You are unwilling to accept that your return will be based
fluctuations in the level of each Underlying.
on the Least Performing Underlying, you will not benefit
from the performance of any other Underlying and you will
¨
You believe the Closing Level of each Underlying will be
be fully exposed to the risk of fluctuations in the level of
equal to or greater than its respective Coupon Barrier on
each Underlying.
each of the Observation Dates, and you believe a Trigger
Event will not occur, meaning each Underlying will close at
¨
You believe that any one of the Underlyings will close
or above its respective Trigger Level on the Final Valuation
below its Coupon Barrier on the Observation Dates, or you
Date.
believe a Trigger Event will occur, meaning the Closing
Level of any one of the Underlyings will be below its
¨
You understand and accept that you will not participate in
Trigger Level on the Final Valuation Date.
any appreciation in the levels of the Underlyings, which
may be significant, and that your potential return is limited
¨
You seek an investment that participates in the full
to the Contingent Coupon payments, if any.
appreciation in the level of the Underlyings, and whose
return is not limited to the Contingent Coupon payments, if
¨
You are willing to invest in the Securities based on the
any.
Contingent Coupon Rate specified on the cover hereof.
¨
You are unwilling to invest in the Securities based on the
¨
You are willing to forgo any dividends paid on the equity
Contingent Coupon Rate specified on the cover hereof.
securities included in the Underlyings.
¨
You seek guaranteed current income from your investment.
¨
You do not seek guaranteed current income from your
investment.
¨
You prefer to receive the dividends paid on the equity
securities included in the Underlyings.
¨
You are willing to invest in securities that are subject to
potential Automatic Call after one year, and you are
¨
You are unable or unwilling to hold securities that are
otherwise willing to hold such securities to maturity and
subject to potential Automatic Call after one year or are
accept that there may be little or no secondary market for
otherwise unable or unwilling to hold such securities to
the Securities.
maturity or you seek an investment for which there will be
an active secondary market for the Securities.
¨
You seek an investment with exposure to companies in the
Eurozone and small market capitalization companies in the
¨
You do not seek an investment with exposure to
United States.
companies in the Eurozone and small market capitalization
companies in the United States.
¨
You are willing to assume the credit risk of Credit Suisse
for all payments under the Securities, and understand that
¨
You are unwilling to assume the credit risk of Credit Suisse
the payment of any amount due on the Securities is
for all payments under the Securities.
subject to the credit risk of Credit Suisse.
T he suit a bilit y c onside ra t ions ide nt ifie d a bove a re not e x ha ust ive . Whe t he r or not t he Se c urit ie s a re a
suit a ble inve st m e nt for you w ill de pe nd on your individua l c irc um st a nc e s a nd you should re a c h a n
inve st m e nt de c ision only a ft e r you a nd your inve st m e nt , le ga l, t a x , a c c ount ing a nd ot he r a dvisors ha ve
c a re fully c onside re d t he suit a bilit y of a n inve st m e nt in t he Se c urit ie s in light of your pa rt ic ula r
c irc um st a nc e s. Y ou should a lso re vie w c a re fully t he "K e y Risk s" be ginning on pa ge 8 of t his pric ing
supple m e nt for risk s re la t e d t o a n inve st m e nt in t he Se c urit ie s.

3

Fina l T e rm s

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Issuer
Credit Suisse AG ("Credit Suisse"),

50® Index.

acting through its London branch.
Automatic
The Securities will be automatically
Principal Amount
$10.00 per Security
Call Feature
called if the Closing Level of each
Underlying on any Observation Date
Term(1)
Approximately 10 years, unless
called earlier. In the event that we
(quarterly, beginning September 12,
make any change to the expected
2016) is equal to or greater than its
Settlement Date, the calculation
respective Initial Level.
agent may adjust (i) the

Observation Dates to ensure that
If the Securities are called on any
the term between each Observation
Observation Date (quarterly, beginning
Date remains the same and/or (ii)
September 12, 2016), on the Coupon
Final Valuation Date and Maturity
Payment Date immediately following the
Date to ensure that the stated term
relevant Observation Date (the
of the Securities remains the same.
"Automatic Call Date"), Credit Suisse will
pay you a cash payment per Security
Underlyings
The Russell 2000® Index and the
equal to your principal amount plus the
Contingent Coupon payable on that
EURO STOXX 50® Index.
Coupon Payment Date. No further
Contingent Coupon
I f t he Closing Le ve l of e a c h
amounts will be owed to you under the
U nde rlying is e qua l t o or
Securities.
gre a t e r t ha n it s re spe c t ive

Coupon Ba rrie r on a ny
The Securities will not be subject to an
Obse rva t ion Da t e , Credit Suisse
Automatic Call on an Observation Date
will pay you the Contingent Coupon
(quarterly, beginning September 12,
applicable to such Observation
2016) if the Closing Level of any
Date.
Underlying on such Observation Date is

below its Initial Level.
I f t he Closing Le ve l of a ny
Payment at Maturity I f t he Se c urit ie s a re not c a lle d
U nde rlying is le ss t ha n it s
(per Security)
a nd a T rigge r Eve nt doe s not
re spe c t ive Coupon Ba rrie r on
oc c ur, on the Maturity Date Credit
a ny Obse rva t ion Da t e , the
Suisse will pay you a cash payment per
Contingent Coupon applicable to
Security equal to $10.00.
such Observation Date will not be

paid and you will not receive any
I f t he Se c urit ie s a re not c a lle d
payment in respect of such
a nd a T rigge r Eve nt oc c urs, on the
Observation Date on the
Maturity Date, Credit Suisse will pay you
immediately following Coupon
less than the principal amount, if
Payment Date or on any other date.
anything, resulting in a loss on your

initial investment that is proportionate to
The table below sets forth the
the depreciation in the Underlying
Contingent Coupon amount (based
Return of the Least Performing
on the Contingent Coupon Rate of
Underlying, for an amount equal to:
9.20% per annum) that would be

applicable to each Observation
$10.00 + ($10.00 × Underlying Return of
Date on which the Closing Level of
the Least Performing Underlying)
each Underlying is greater than or

equal to its respective Coupon
You will lose some or all of your
Barrier.
principal amount if the Securities are not

Cont inge nt Coupon (pe r
called and a Trigger Event occurs.
Se c urit y)
(1) Subject to postponement as described in the
Russe ll 2 0 0 0 ® I nde x a nd
accompanying product supplement under "Description of the
EU RO ST OX X 5 0 ® I nde x
Securities--Postponement of calculation dates."

$0.2300 per quarter

Cont inge nt Coupon pa ym e nt s
on t he Se c urit ie s a re not
gua ra nt e e d. Cre dit Suisse
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w ill not pa y you t he
Cont inge nt Coupon for a ny
Obse rva t ion Da t e on w hic h
t he Closing Le ve l of a ny
U nde rlying is le ss t ha n it s
Coupon Ba rrie r.
Trigger Event
A Trigger Event will occur if the
Final Level of any Underlying is
less than its Trigger Level.

In this case, you will be fully
exposed to any depreciation in the
level of the Least Performing
Underlying from the Trade Date to
the Final Valuation Date.
Contingent Coupon Rate The Contingent Coupon rate is
9.20% per annum for Securities
linked to the Least Performing
Underlying between the Russell
2000® Index and the EURO
STOXX

4

Fina l T e rm s

Least
The Underlying with the lowest Underlying
Closing Level
The Closing Level of the Russell 2000® Index
Performing
Return.
and the EURO STOXX 50® Index on any
Underlying
trading day will be the closing level of such
Underlying
For each Underlying, calculated as follows:
Underlying on such trading day, as
Return
Final Level Initial Level
determined by the calculation agent by
Initial Level
reference to (i) Bloomberg Financial Services
("Bloomberg") or any successor reporting
Trigger Level
A percentage of the Initial Level of each
service, or (ii) if Bloomberg or such successor
Underlying, as specified on the first page of
reporting service does not publish the closing
this pricing supplement.
level on such trading day, the index sponsor.
Coupon
A percentage of the Initial Level of each
Observation
The first Observation Date will occur on
Barrier
Underlying, as specified on the first page of
Dates
December 11, 2015; Observation Dates will
this pricing supplement.
occur quarterly thereafter as listed in the
"Observation Dates/Coupon Payment Dates"
Initial Level
The Closing Level of each Underlying on the
section below. The final Observation Date,
Trade Date, as specified on the first page of
September 11, 2025, will be the "Final
this pricing supplement.
Valuation Date."
Final Level
The Closing Level of each Underlying on the
Coupon
The first Coupon Payment Date will occur on
Final Valuation Date, as determined by the
Payment
December 15, 2015; Coupon Payment Dates
calculation agent.
Dates
will occur quarterly thereafter as listed in the
"Observation Dates/Coupon Payment Dates"
section below, except that the Coupon
Payment Date for the Final Valuation Date is
the Maturity Date.

Supple m e nt a l T e rm s of t he Se c urit ie s

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For purposes of the Securities offered by this pricing supplement, all references to each of the following defined terms used in the
accompanying product supplement will be deemed to refer to the corresponding defined term used in this pricing supplement, as
set forth in the table below:

Produc t Supple m e nt De fine d T e rm
Pric ing Supple m e nt De fine d T e rm
Knock-In Level
Trigger Level
Knock-In Event
Trigger Event
Lowest Performing Underlying
Least Performing Underlying
Valuation Date
Final Valuation Date
5

I nve st m e nt T im e line

The Contingent Coupon Rate is set, the Initial
Level of each Underlying is observed, and
T ra de Da t e
the Trigger Level and Coupon Barrier for
each Underlying are determined.

If the Closing Level of each Underlying is
equal to or greater than its respective Coupon
Barrier on any Observation Date, Credit
Suisse will pay you a Contingent Coupon on
Qua rt e rly,
the applicable Coupon Payment Date.
inc luding t he

Fina l
The Securities will be called if the Closing
V a lua t ion
Level of each Underlying on any Observation
Da t e
Date on or after September 12, 2016 is equal
(c a lla ble
to or greater than its respective Initial Level. If
a ft e r 1 ye a r)
the Securities are called, Credit Suisse will
pay you a cash payment per Security equal to
$10.00 plus the Contingent Coupon payable
on the Automatic Call Date.

The Final Level of each Underlying is
observed on the Final Valuation Date.

If the Securities have not been called and a
Trigger Event has not occurred, on the
Maturity Date, Credit Suisse will pay you a
cash payment per Security equal to $10.00.

If the Securities have not been called and a
M a t urit y
Trigger Event has occurred, Credit Suisse will
da t e
pay you less than the principal amount, if
anything, resulting in a loss on your initial
investment proportionate to the depreciation
of the Least Performing Underlying from its
Initial Level to its Final Level, for an amount
equal to:
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$ 1 0 .0 0 + ($ 1 0 .0 0 × U nde rlying Re t urn
of t he Le a st Pe rform ing
U nde rlying) pe r Se c urit y
I N V EST I N G I N T H E SECU RI T I ES I N V OLV ES SI GN I FI CAN T RI SK S. Y OU M AY LOSE SOM E OR ALL OF Y OU R
PRI N CI PAL AM OU N T . AN Y PAY M EN T ON T H E SECU RI T I ES, I N CLU DI N G AN Y REPAY M EN T OF PRI N CI PAL, I S
SU BJ ECT T O CREDI T SU I SSE'S ABI LI T Y T O PAY I T S OBLI GAT I ON S AS T H EY BECOM E DU E. I F CREDI T
SU I SSE WERE T O DEFAU LT ON I T S OBLI GAT I ON S, Y OU M AY N OT RECEI V E AN Y AM OU N T S OWED T O Y OU
U N DER T H E SECU RI T I ES.

T he Se c urit ie s w ill not pa y a Cont inge nt Coupon if t he Closing Le ve l of a ny U nde rlying is be low it s Coupon
Ba rrie r on t he a pplic a ble Obse rva t ion Da t e . T he Se c urit ie s w ill not be subje c t t o a n Aut om a t ic Ca ll on a n

6

Obse rva t ion Da t e (qua rt e rly, be ginning Se pt e m be r 1 2 , 2 0 1 6 ) if t he Closing Le ve l of a ny U nde rlying on suc h
Obse rva t ion Da t e is be low it s I nit ia l Le ve l. I f t he Se c urit ie s a re not c a lle d, you w ill lose som e or a ll of your
inve st m e nt a t m a t urit y if a T rigge r Eve nt oc c urs.

Obse rva t ion Da t e s (1) a nd Coupon Pa ym e nt Da t e s (2)(3)
Coupon Pa ym e nt
Obse rva t ion
Coupon Pa ym e nt
Obse rva t ion
Coupon Pa ym e nt
Obse rva t ion Da t e s
Da t e s
Da t e s
Da t e s
Da t e s
Da t e s
December 11, 2015*
December 15, 2015*
June 11, 2019
June 13, 2019
December 12, 2022 December 14, 2022
March 11, 2016*
March 15, 2016*
September 11,
September 13, 2019
March 13, 2023
March 15, 2023
2019
June 13, 2016*
June 15, 2016*
December 11, 2019 December 13, 2019
June 12, 2023
June 14, 2023
September 12, 2016
September 14, 2016
March 11, 2020
March 13, 2020
September 11, 2023 September 13, 2023
December 12, 2016
December 14, 2016
June 11, 2020
June 15, 2020
December 11, 2023 December 13, 2023
March 13, 2017
March 15, 2017
September 11,
September 15, 2020
March 11, 2024
March 13, 2024
2020
June 12, 2017
June 14, 2017
December 11, 2020 December 15, 2020
June 11, 2024
June 13, 2024
September 11, 2017
September 13, 2017
March 11, 2021
March 15, 2021
September 11, 2024 September 13, 2024
December 11, 2017
December 13, 2017
June 11, 2021
June 15, 2021
December 11, 2024 December 13, 2024
March 12, 2018
March 14, 2018
September 13,
September 15, 2021
March 11, 2025
March 13, 2025
2021
June 11, 2018
June 13, 2018
December 13, 2021 December 15, 2021
June 11, 2025
June 13, 2025
September 11, 2018
September 13, 2018
March 11, 2022
March 15, 2022
September 11, 2025 September 17, 2025
December 11, 2018
December 13, 2018
June 13, 2022
June 15, 2022

March 11, 2019
March 13, 2019
September 12,
September 14, 2022

2022
*
The Securities are not callable until the fourth Observation Date, which is September 12, 2016.
(1) Each subject to postponement as described in the accompanying product supplement under "Description of the Securities
--Postponement of calculation dates."
(2) Each subject to the modified following business day convention and subject to postponement as described in the
accompanying product supplement under "Description of the Securities--Postponement of calculation dates."
(3) Contingent Coupons will be payable to the holders of record at the close of business on the business day immediately
preceding the applicable Coupon Payment Date, provided that the Contingent Coupon payable upon Automatic Call or at
maturity, as applicable, will be payable to the person to whom the principal amount upon Automatic Call or the Payment at
Maturity, is payable.

7

K e y Risk s
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An investment in the offering of the Securities involves significant risks. Investing in the Securities is not equivalent to investing in
the Underlyings. Some of the risks that apply to the Securities are summarized below, but we urge you to read the more detailed
explanation of risks relating to the Securities in the "Risk Factors" section of the accompanying product supplement. We also urge
you to consult your investment, legal, tax, accounting and other advisors before you invest in the Securities.

¨
Y ou m a y re c e ive le ss t ha n t he princ ipa l a m ount a t m a t urit y -- You may receive less at maturity than you originally
invested in the Securities. If the Final Level of any Underlying is less than its Trigger Level, you will be fully exposed to any
depreciation in the Least Performing Underlying and will incur a loss proportionate to the Underlying Return of the Least
Performing Underlying. In this case, at maturity, the amount Credit Suisse will pay you will be less than the principal amount of
the Securities and you could lose your entire investment. It is not possible to predict whether a Trigger Event will occur, and in
the event that there is a Trigger Event, by how much the Final Level of the Least Performing Underlying will decrease in
comparison to its Initial Level. Any payment on the Securities is subject to our ability to pay our obligations as they become
due.

¨
T he Se c urit ie s a re subje c t t o t he c re dit risk of Cre dit Suisse -- Investors are dependent on our ability to pay all
amounts due on the Securities and, therefore, if we were to default on our obligations, you may not receive any amounts owed
to you under the Securities. In addition, any decline in our credit ratings, any adverse changes in the market's view of our
creditworthiness or any increase in our credit spreads is likely to adversely affect the value of the Securities prior to maturity.

¨
T he Se c urit ie s w ill not pa y m ore t ha n t he princ ipa l a m ount , plus a ny Cont inge nt Coupons pa ya ble by
m a t urit y or upon Aut om a t ic Ca ll -- The return potential on the Securities is limited to the Contingent Coupon Rate
regardless of the potential appreciation of the Underlyings. Therefore, the Securities do not provide for a return greater than
the principal amount, plus any Contingent Coupons received up to maturity or upon Automatic Call. Even if the Final Level of
each Underlying is greater than its respective Initial Level, you will not participate in the appreciation of any Underlying despite
the potential for full downside exposure to the Least Performing Underlying at maturity. The actual return on the Securities will
depend on the number of Observation Dates on which the requirements for the Contingent Coupon are met and the amount
payable per Security may be less than the amount payable on a traditional debt security that pays interest at prevailing market
rates or an investment that allows for participation in any appreciation of the Underlyings.

¨
T he Se c urit ie s a re subje c t t o a pot e nt ia l Aut om a t ic Ca ll prior t o m a t urit y, w hic h w ould lim it your
opport unit y t o be pa id Cont inge nt Coupons ove r t he full t e rm of t he Se c urit ie s --If the Closing Level of each
Underlying on any Observation Date after one year is equal to or greater than its Initial Level, the Securities will be called and
Credit Suisse will pay you a cash payment equal to the principal amount of the Securities you hold plus the Contingent Coupon
payable on that Coupon Payment Date, and no further payments will be made in respect of the Securities. If the Securities are
called prior to maturity, you will lose the opportunity to be paid Contingent Coupons from the date of Automatic Call to the
scheduled Maturity Date and you may be unable to invest in other Securities with a similar level of risk that provide you with
the opportunity to be paid the same coupons as the Securities.

¨
Y ou m a y not re c e ive a ny Cont inge nt Coupons -- Credit Suisse will not necessarily make periodic coupon payments
on the Securities. If the Closing Level of any one of the Underlyings on an Observation Date is less than its respective Coupon
Barrier, Credit Suisse will not pay you the Contingent Coupon applicable to such Observation Date. If the Closing Level of any
one of the Underlyings is less than its respective Coupon Barrier on each of the Observation Dates, Credit Suisse will not pay
you any Contingent Coupons during the term of, and you will not receive a positive return on, your Securities.

¨
H ighe r c ont inge nt c oupon ra t e s a re ge ne ra lly a ssoc ia t e d w it h a gre a t e r risk of loss -- Greater expected
volatility with respect to the Underlyings reflects a higher expectation as of the Trade Date that the level of any Underlying
could close below its respective Trigger Level on the Final Valuation Date of the Securities. This greater expected risk will
generally be reflected in a higher Contingent Coupon Rate for that Security. However, while the Contingent Coupon Rate will
be a fixed amount, the volatilities of the Underlyings can change significantly over the term of the Securities. The levels of the
Underlyings for your Securities could fall sharply, which could result in a significant loss of principal.

8

¨
T he Pa ym e nt a t M a t urit y w ill be le ss t ha n t he princ ipa l a m ount of t he Se c urit ie s e ve n if a T rigge r Eve nt
oc c urs w it h re spe c t t o only one U nde rlying -- Even if the Final Level of only one Underlying is less than its Trigger
Level, a Trigger Event will have occurred. In this case, the Payment at Maturity will be less than the principal amount of the
Securities.

¨
Y our re t urn w ill be ba se d on t he individua l re t urn of e a c h U nde rlying --If the Closing Level of any Underlying is
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less than its respective Coupon Barrier on any Observation Date, even with respect to only one Underlying, you will not receive
any Contingent Coupon payment for the corresponding quarter. Additionally, because the Payment at Maturity will be based on
the Underlying Return of the Least Performing Underlying, you will not benefit from the performance of any other Underlying. If
a Trigger Event occurs, even with respect to only one Underlying, the Underlying Return of the Least Performing Underlying
will be negative and you will receive less than the principal amount of your Securities at maturity.

¨
Sinc e t he Se c urit ie s a re link e d t o t he pe rform a nc e of m ore t ha n one U nde rlying, you w ill be fully
e x pose d t o t he risk of fluc t ua t ions in t he le ve l of e a c h U nde rlying -- Since the Securities are linked to the
performance of more than one Underlying, the Securities will be linked to the individual performance of each Underlying.
Investors will have individual exposure to each Underlying without the benefit of any risk mitigation. Because the Securities are
not linked to a basket, in which case the risk is mitigated and diversified among all of the components of a basket, you will be
exposed to the risk of fluctuations in the levels of the Underlyings to the same degree for each Underlying. Because the
amount payable on the Securities, if any, depends on the performance of the lowest performing Underlying, you will bear the
risk that any of the Underlyings will perform poorly. For example, in the case of Securities linked to a basket, the return would
depend on the weighted aggregate performance of the basket components as reflected by the basket return. Thus, the
depreciation of any basket component could be mitigated by the appreciation of another basket component, to the extent of the
weightings of such components in the basket. However, in the case of Securities linked to the least performing Underlying, the
individual performance of each Underlying is not combined to calculate your return and the depreciation of any Underlying is
not mitigated by the appreciation of any other Underlying. Instead, if a Trigger Event occurs, the Payment at Maturity will be
based on the least performing of the Underlyings to which the Securities are linked. Likewise, if on any Observation Date, the
Closing Level of any Underlying is less than its Coupon Barrier, no Contingent Coupon will be paid for the corresponding
quarter. Because the Securities are linked to the individual performance of more than one Underlying, it is more likely that one
of the Underlyings will close below its Coupon Barrier on an Observation Date, and below its Trigger Level on the Final
Valuation Date, thereby making it more likely that you will not receive a Contingent Coupon and will lose some or all of your
investment at maturity. Additionally, movements in the values of the Underlyings may be correlated or uncorrelated at different
times during the term of the Securities, and such correlation (or lack thereof) could have an adverse effect on your return on
the Securities. For example, the likelihood that one of the Underlyings will close below its Coupon Barrier on an Observation
Date will increase when the movements in the values of the Underlyings are uncorrelated. This results in a greater potential for
a Contingent Coupon not to be paid during the term of the Securities and for a loss of principal at Maturity. If the performance
of the Underlyings is not correlated or is negatively correlated, the risk of not receiving a Contingent Coupon and of incurring a
loss of principal at Maturity is greater. In addition, correlation decreases for each additional Underlying to which the Securities
are linked. Generally, the greater the number of Underlyings, and the lower the correlation among the Underlyings, the greater
the potential for loss of principal at Maturity. As discussed above, this increased risk will be reflected in a higher Contingent
Coupon Rate than would be payable on securities linked to fewer underlyings that have a higher degree of correlation.

¨
T he Closing Le ve l of t he EU RO ST OX X 5 0 ® I nde x w ill not be a djust e d for c ha nge s in e x c ha nge ra t e s
re la t ive t o t he U .S. dolla r e ve n t hough t he inde x c onst it ue nt st oc k s a re t ra de d in a fore ign c urre nc y a nd
t he Se c urit ie s a re de nom ina t e d in U .S. dolla rs -- Investors will not be directly exposed to currency exchange rate
risk with respect to the equity securities included in the EURO STOXX 50® Index because both the EURO STOXX 50® Index
and its component securities are valued in euros and are not converted into U.S. dollars. Therefore, if the applicable currencies
appreciate or depreciate relative to the U.S. dollar over the term of the Securities, you will not receive any additional payment
or incur any reduction in your return, if any, at maturity.

¨
Risk s a ssoc ia t e d w it h inve st m e nt s in se c urit ie s link e d t o t he pe rform a nc e of fore ign e quit y se c urit ie s --
The equity securities included in one of the Underlyings are issued by foreign companies and trade in foreign securities
markets. Investments in securities linked to the value of foreign equity securities involve risks associated with the securities
markets in those countries, including the risk of volatility in those markets, governmental

9

intervention in those markets and cross-shareholdings in companies in certain countries. Foreign companies are subject to
accounting, auditing and financial reporting standards and requirements different from those applicable to U.S. reporting
companies.

¨
T he Se c urit ie s a re link e d t o t he Russe ll 2 0 0 0 ® I nde x a nd a re subje c t t o t he risk s a ssoc ia t e d w it h sm a ll -
c a pit a liza t ion c om pa nie s -- The Russell 2000® Index is composed of equity securities issued by companies with
relatively small market capitalization. These equity securities often have greater stock price volatility, lower trading volume and
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