Bond Swiss Credit 7% ( US22547QUA20 ) in USD

Swiss Credit

100 % ▼

Switzerland

US22547QUA20 ( in USD )

7% per year ( payment 2 times a year)

31/10/2029

Prospectus brochure of the bond Credit Suisse US22547QUA20 en USD 7%, maturity 31/10/2029

1 000 USD

22547QUA2

N/A

01/05/2026 ( In 138 days )

Credit Suisse was a global investment bank and financial services company headquartered in Zurich, Switzerland, that was acquired by UBS in March 2023 following a significant financial crisis.

The Bond issued by Swiss Credit ( Switzerland ) , in USD, with the ISIN code US22547QUA20, pays a coupon of 7% per year.
The coupons are paid 2 times per year and the Bond maturity is 31/10/2029

424B2 1 dp50633_424b2-u1082.htm 424B2

Pric ing Supple m e nt N o. U 1 0 8 2
Filed Pursuant to Rule 424(b)(2)
To the Underlying Supplement dated July 29, 2013,
Registration Statement No. 333-180300-03
Product Supplement No. U-I dated March 23, 2012,
October 28, 2014
Prospectus Supplement dated March 23, 2012 and
Prospectus dated March 23, 2012

Fina nc ia l
Produc t s
$ 1 ,6 0 4 ,0 0 0
St e p -U p Cont inge nt Coupon Ca lla ble Y ie ld N ot e s due Oc t obe r 3 1 , 2 0 2 9
Link e d t o t he Pe rform a nc e of t he S& P 5 0 0 ® I nde x
Ge ne ra l
·
The securities are designed for investors who are mildly bearish, neutral or mildly bullish on the Underlying. Investors should be willing to lose some or all of
their investment if a Knock-In Event occurs. Any payment on the securities is subject to our ability to pay our obligations as they become due.
·
Subject to Early Redemption, if a Coupon Barrier Event does not occur, contingent coupons will be paid quarterly in arrears at an Applicable Contingent
Coupon Rate of 7.00% per annum from and including the Settlement Date to and excluding October 31, 2019, 8.00% per annum from and including October
31, 2019 to and excluding October 31, 2024 and 9.00% per annum from and including October 31, 2024 to and excluding the Maturity Date. If a Coupon
Barrier Event occurs on any Observation Date, no contingent coupon will be paid for the corresponding contingent coupon period. Contingent coupons will be
calculated on a 30/360 basis from and including the Settlement Date to and excluding the earlier of the Early Redemption Date and the Maturity Date, as
applicable.
·
The Issuer may redeem the securities, in whole but not in part, on any Contingent Coupon Payment Date scheduled to occur on or after January 30, 2015. No
contingent coupons will accrue or be payable following an Early Redemption.
·
Senior unsecured obligations of Credit Suisse AG, acting through its London Branch, maturing October 31, 2029.
·
Minimum purchase of $1,000. Minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof.
·
The securities priced on October 28, 2014 (the "Trade Date") and are expected to settle on October 31, 2014 (the "Settlement Date"). Delivery of the securities
in book-entry form only will be made through The Depository Trust Company.
K e y T e rm s
Issuer:
Credit Suisse AG ("Credit Suisse"), acting through its London Branch
Underlying:
The securities are linked to the performance of the S&P 500® Index. For more information on the Underlying, see "The Reference Indices
--The S&P Dow Jones Indices--The S&P 500® Index" in the accompanying underlying supplement. The Underlying is identified in the
table below, together with its Bloomberg ticker symbol, Initial Level, Knock-In Level and Coupon Barrier Level:

Coupon Ba rrie r
U nde rlying

T ic k e r

I nit ia l Le ve l

K noc k -I n Le ve l

Le ve l

S& P 5 0 0 ® I nde x ("SPX ")

SPX <I nde x >

1 9 8 5 .0 5 0

9 9 2 .5 2 5

1 4 8 8 .7 8 8
Applicable Contingent
Subject to Early Redemption, if a Coupon Barrier Event does not occur, the Applicable Contingent Coupon Rate for the corresponding
Coupon Rate:
contingent coupon period will be:

·
7.00% per annum from and including the Settlement Date to and excluding October 31, 2019

·
8.00% per annum from and including October 31, 2019 to and excluding October 31, 2024

·
9.00% per annum from and including October 31, 2024 to and excluding the Maturity Date

If a Coupon Barrier Event occurs, no contingent coupon will be paid for the corresponding contingent coupon period. Contingent coupons
will be calculated on a 30/360 basis from and including the Settlement Date to and excluding the earlier of the Early Redemption Date and
the Maturity Date, as applicable.
Coupon Barrier Event: A Coupon Barrier Event will occur if on an Observation Date the closing level of the Underlying is less than the Coupon Barrier Level.
Coupon Barrier Level:
As set forth in the table above.
Contingent Coupon
Subject to Early Redemption, unless a Coupon Barrier Event occurs, contingent coupons will be paid quarterly in arrears on January 30,
Payment Dates:
2015, April 30, 2015, July 31, 2015, October 30, 2015, January 29, 2016, April 29, 2016, July 29, 2016, October 31, 2016, January 31,
2017, April 28, 2017, July 31, 2017, October 31, 2017, January 31, 2018, April 30, 2018, July 31, 2018, October 31, 2018, January 31,
2019, April 30, 2019, July 31, 2019, October 31, 2019, January 31, 2020, April 30, 2020, July 31, 2020, October 30, 2020, January 29,
2021, April 30, 2021, July 30, 2021, October 29, 2021, January 31, 2022, April 29, 2022, July 29, 2022, October 31, 2022, January 31,
2023, April 28, 2023, July 31, 2023, October 31, 2023, January 31, 2024, April 30, 2024, July 31, 2024, October 31, 2024, January 31,
2025, April 30, 2025, July 31, 2025, October 31, 2025, January 30, 2026, April 30, 2026, July 31, 2026, October 30, 2026, January 29,
2027, April 30, 2027, July 30, 2027, October 29, 2027, January 31, 2028, April 28, 2028, July 31, 2028, October 31, 2028, January 31,
2029, April 30, 2029, July 31, 2029 and the Maturity Date, subject to the modified following business day convention. No contingent
coupons will accrue or be payable following an Early Redemption. Contingent coupons will be payable to the holders of record at the
close of business on the business day immediately preceding the applicable Contingent Coupon Payment Date, provided that the
contingent coupon payable on the Early Redemption Date or Maturity Date, as applicable, will be payable to the person to whom the Early
Redemption Amount or the Redemption Amount, as applicable, is payable.
Redemption Amount:
At maturity, the Redemption Amount you will be entitled to receive will depend on the performance of the Underlying and whether a
Knock-In Event occurs. Subject to Early Redemption, the Redemption Amount will be determined as follows:

·
If a Knock-In Event occurs, the Redemption Amount will equal the principal amount of the securities you hold multiplied by the sum of
one plus the Underlying Return. I n t his c a se , t he Re de m pt ion Am ount w ill be le ss t ha n $ 5 0 0 pe r $ 1 ,0 0 0 princ ipa l
a m ount of se c urit ie s. Y ou c ould lose your e nt ire inve st m e nt .

·
If a Knock-In Event does not occur, the Redemption Amount will equal the principal amount of the securities you hold.

Any payment on the securities is subject to our ability to pay our obligations as they become due.
I nve st ing in t he se c urit ie s involve s a num be r of risk s. Se e "Se le c t e d Risk Conside ra t ions" in t his pric ing supple m e nt a nd
"Risk Fa c t ors" be ginning on pa ge PS -3 of t he a c c om pa nying produc t supple m e nt .
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the securities or passed upon
http://www.sec.gov/Archives/edgar/data/1053092/000095010314007558/dp50633_424b2-u1082.htm[10/30/2014 4:25:24 PM]

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.

U nde rw rit ing Disc ount s a nd
Pric e t o Public (1 )
Com m issions(2 )
Proc e e ds t o I ssue r
Pe r se c urit y
$ 1 ,0 0 0 .0 0
$ 4 5 .8 0
$ 9 5 4 .2 0
T ot a l
$ 1 ,6 0 4 ,0 0 0 .0 0
$ 7 3 ,4 6 3 .2 0
$ 1 ,5 3 0 ,5 3 6 .8 0
(1) Certain fiduciary accounts may pay a purchase price of at least $954.20 per $1,000 principal amount of securities, and CSSU will forgo any fees
with respect to such sales.
(2) We or one of our affiliates will pay discounts and commissions of $45.80 per $1,000 principal amount of securities. For more detailed information,
please see "Supplemental Plan of Distribution (Conflicts of Interest)" on the last page of this pricing supplement.
The agent for this offering, Credit Suisse Securities (USA) LLC ("CSSU"), is our affiliate. For more information, see "Supplemental Plan of Distribution
(Conflicts of Interest)" on the last page of this pricing supplement.
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 0 7 .6 0 (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 "Se le c t e d Risk Conside ra t ions" in 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.
CALCULATION OF REGISTRATION FEE
T it le of Ea c h Cla ss of Se c urit ie s Offe re d
M a x im um Aggre ga t e Offe ring
Am ount of Re gist ra t ion Fe e
Pric e
N ot e s
$ 1 ,6 0 4 ,0 0 0 .0 0
$ 1 8 6 .3 8
Cre dit Suisse

October 28, 2014
(continued on next page)

(continued from previous page)
Early Redemption:
Prior to the Maturity Date, the Issuer may redeem the securities in whole, but not in part, on any Contingent Coupon Payment Date
scheduled to occur on or after January 30, 2015 upon notice to the trustee on or before the immediately preceding Early Redemption
Notice Date at 100% of the principal amount of the securities (the "Early Redemption Amount"), together with the contingent coupon, if
any, payable on that Contingent Coupon Payment Date (the "Early Redemption Date").
Early Redemption
Notice of Early Redemption will be provided prior to the relevant Contingent Coupon Payment Date on or before January 27, 2015, April
Notice Dates:
27, 2015, July 28, 2015, October 27, 2015, January 26, 2016, April 26, 2016, July 26, 2016, October 26, 2016, January 26, 2017, April
25, 2017, July 26, 2017, October 26, 2017, January 26, 2018, April 25, 2018, July 26, 2018, October 26, 2018, January 28, 2019, April
25, 2019, July 26, 2019, October 28, 2019, January 28, 2020, April 27, 2020, July 28, 2020, October 27, 2020, January 26, 2021, April
27, 2021, July 27, 2021, October 26, 2021, January 26, 2022, April 26, 2022, July 26, 2022, October 26, 2022, January 26, 2023, April
25, 2023, July 26, 2023, October 26, 2023, January 26, 2024, April 25, 2024, July 26, 2024, October 28, 2024, January 28, 2025, April
25, 2025, July 28, 2025, October 28, 2025, January 27, 2026, April 27, 2026, July 28, 2026, October 27, 2026, January 26, 2027, April
27, 2027, July 27, 2027, October 26, 2027, January 26, 2028, April 25, 2028, July 26, 2028, October 26, 2028, January 26, 2029, April
25, 2029 or July 26, 2029, as applicable.
Knock-In Event:
A Knock-In Event will occur if the Final Level is less than the Knock-In Level.
Knock-In Level:
As set forth in the table above.
Underlying Return:
The Underlying Return will be calculated as follows:

Final Level - Initial Level
, subject to a maximum of zero
Initial Level
Initial Level:
As set forth in the table above.
Final Level:
The closing level of such Underlying on the Valuation Date.
Observation Dates:
January 27, 2015, April 27, 2015, July 28, 2015, October 27, 2015, January 26, 2016, April 26, 2016, July 26, 2016, October 26, 2016,
January 26, 2017, April 25, 2017, July 26, 2017, October 26, 2017, January 26, 2018, April 25, 2018, July 26, 2018, October 26, 2018,
January 28, 2019, April 25, 2019, July 26, 2019, October 28, 2019, January 28, 2020, April 27, 2020, July 28, 2020, October 27, 2020,
January 26, 2021, April 27, 2021, July 27, 2021, October 26, 2021, January 26, 2022, April 26, 2022, July 26, 2022, October 26, 2022,
January 26, 2023, April 25, 2023, July 26, 2023, October 26, 2023, January 26, 2024, April 25, 2024, July 26, 2024, October 28, 2024,
January 28, 2025, April 25, 2025, July 28, 2025, October 28, 2025, January 27, 2026, April 27, 2026, July 28, 2026, October 27, 2026,
January 26, 2027, April 27, 2027, July 27, 2027, October 26, 2027, January 26, 2028, April 25, 2028, July 26, 2028, October 26, 2028,
January 26, 2029, April 25, 2029, July 26, 2029 and the Valuation Date.
Valuation Date:
October 26 2029
Maturity Date:
October 31, 2029
Listing:
The securities will not be listed on any securities exchange.
CUSIP:
22547QUA2
The determination of the closing level on each Observation Date (other than the Valuation Date) is subject to postponement if such date is not a trading day or as
a result of a market disruption event, as described herein under "Market Disruption Events." The Valuation Date is subject to postponement if such date is not an
underlying business day or as a result of a market disruption event, as described in the accompanying product supplement under "Description of the Securities--
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Market disruption events." The Contingent Coupon Payment Dates, including the Maturity Date, are subject to postponement, each as described herein, if such
date is not a business day or if (a) the determination of the closing level on the corresponding Observation Date (other than the Valuation Date) is postponed or (b)
the Valuation Date is postponed, in each case because such date is not a trading day or an underlying business day or as a result of a market disruption event.

Addit iona l T e rm s Spe c ific t o t he Se c urit ie s

You should read this pricing supplement together with the underlying supplement dated July 29, 2013, the product supplement dated
March 23, 2012, the prospectus supplement dated March 23, 2012 and the prospectus dated March 23, 2012, 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 July 29, 2013:

http://www.sec.gov/Archives/edgar/data/1053092/000095010313004526/dp39753_424b2.htm

·
Product supplement No. U-I dated March 23, 2012:

http://www.sec.gov/Archives/edgar/data/1053092/000095010312001501/dp29492_424b2-ui.htm

·
Prospectus supplement and Prospectus dated March 23, 2012:

http://www.sec.gov/Archives/edgar/data/1053092/000104746912003186/a2208088z424b2.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.

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 "Selected Risk Considerations" in this pricing supplement, 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.

1

H ypot he t ic a l Re de m pt ion Am ount s a nd T ot a l Pa ym e nt s on t he Se c urit ie s

The tables and examples below illustrate, for a $1,000 investment in the securities, hypothetical Redemption Amounts payable at
maturity for a hypothetical range of Underlying Returns and, in the case of Tables 2, 3 and 4, total contingent coupon payments over the
term of the securities, which will depend on the timing and number of Coupon Barrier Events that have occurred over the term of the
securities. The tables and examples below reflect that (i) if a Coupon Barrier Event does not occur on an Observation Date during the
period from and including the Settlement Date to and excluding October 31, 2019 (such period, the "1st step-up period"), a contingent
coupon will be paid for the corresponding contingent coupon period at a rate of 7.00% per annum, (ii) if a Coupon Barrier Event does
not occur on an Observation Date during the period from and including October 31, 2019 to and excluding October 31, 2024 (such
period, the "2nd step-up period"), a contingent coupon will be paid for the corresponding contingent coupon period at a rate of 8.00% per
annum and (iii) if a Coupon Barrier Event does not occur on an Observation Date during the period from and including October 31, 2024
to and excluding the Maturity Date (such period, the "3rd step-up period"), a contingent coupon will be paid for the corresponding
contingent coupon period at a rate of 9.00% per annum and assume that (i) the securities are not redeemed prior to maturity, (ii) the term
of the securities is exactly 15 years, (iii) the Coupon Barrier Level is 75% of the Initial Level and (iv) the Knock-In Level is 50% of the
Initial Level. The examples are intended to illustrate hypothetical calculations of only the Redemption Amount and do not illustrate the
calculation or payment of any individual contingent coupon payment.

The hypothetical Redemption Amounts and total coupon payments set forth below are for illustrative purposes only. The actual
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Redemption Amounts and total coupon payments applicable to a purchaser of the securities will depend on the timing and number of
Coupon Barrier Events that have occurred over the term of the securities, whether a Knock-In Event occurs and on the Final Level. It is
not possible to predict how many Coupon Barrier Events will occur, if any, or whether a Knock-In Event will occur, and, in the event that
there is a Knock-In Event, by how much the Final Level will decrease in comparison to the Initial Level. You should consider carefully
whether the securities are suitable to your investment goals. Any payment on the securities is subject to our ability to pay our obligations
as they become due. The numbers appearing in the tables and examples below have been rounded for ease of analysis.

T ABLE 1 : Hypothetical Redemption Amounts

Re de m pt ion Am ount
Pe rc e nt a ge Cha nge
(e x c luding c ont inge nt
from t he I nit ia l Le ve l
c oupon pa ym e nt s, if
T ot a l Cont inge nt Coupon
t o t he Fina l Le ve l

U nde rlying Re t urn

a ny)

Pa ym e nt s
100.00%

0.00%

$1,000.00

90.00%

0.00%

$1,000.00

80.00%

0.00%

$1,000.00

70.00%

0.00%

$1,000.00

60.00%

0.00%

$1,000.00

50.00%

0.00%

$1,000.00

40.00%

0.00%

$1,000.00

30.00%

0.00%

$1,000.00

20.00%

0.00%

$1,000.00

10.00%

0.00%

$1,000.00

0 .0 0 %

0 .0 0 %

$ 1 ,0 0 0 .0 0

-10.00%

-10.00%

$1,000.00

(See table below)
-20.00%

-20.00%

$1,000.00

-30.00%

-30.00%

$1,000.00

-40.00%

-40.00%

$1,000.00

-50.00%

-50.00%

$1,000.00

-5 0 .0 1 %

-5 0 .0 1 %

$ 4 9 9 .9 0

-60.00%

-60.00%

$400.00

-70.00%

-70.00%

$300.00

-80.00%

-80.00%

$200.00

-90.00%

-90.00%

$100.00

-100.00%

-100.00%

$0.00

2

T ABLE 2 : Hypothetical contingent coupon payments during the 1st step-up period.

Cont inge nt Coupon Pa ym e nt s during
N um be r of Coupon Ba rrie r Eve nt s during t he 1 st st e p -up pe riod

t he 1 st st e p -up pe riod
A Coupon Barrier Event does not occur

$350.00
A Coupon Barrier Event occurs on 1 Observation Date

$332.50
A Coupon Barrier Event occurs on 2 Observation Dates

$315.00
A Coupon Barrier Event occurs on 3 Observation Dates

$297.50
A Coupon Barrier Event occurs on 4 Observation Dates

$280.00
A Coupon Barrier Event occurs on 5 Observation Dates

$262.50
A Coupon Barrier Event occurs on 6 Observation Dates

$245.00
A Coupon Barrier Event occurs on 7 Observation Dates

$227.50
A Coupon Barrier Event occurs on 8 Observation Dates

$210.00
A Coupon Barrier Event occurs on 9 Observation Dates

$192.50
A Coupon Barrier Event occurs on 10 Observation Dates

$175.00
A Coupon Barrier Event occurs on 11 Observation Dates

$157.50
A Coupon Barrier Event occurs on 12 Observation Dates

$140.00
A Coupon Barrier Event occurs on 13 Observation Dates

$122.50
A Coupon Barrier Event occurs on 14 Observation Dates

$105.00
A Coupon Barrier Event occurs on 15 Observation Dates

$87.50
A Coupon Barrier Event occurs on 16 Observation Dates

$70.00
A Coupon Barrier Event occurs on 17 Observation Dates

$52.50
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A Coupon Barrier Event occurs on 18 Observation Dates

$35.00
A Coupon Barrier Event occurs on 19 Observation Dates

$17.50
A Coupon Barrier Event occurs on 20 Observation Dates

$0.00

T ABLE 3 : Hypothetical contingent coupon payments during the 2nd step-up period.

Cont inge nt Coupon Pa ym e nt s during
N um be r of Coupon Ba rrie r Eve nt s during t he 2 nd st e p -up pe riod

t he 2 nd st e p -up pe riod
A Coupon Barrier Event does not occur

$400.00
A Coupon Barrier Event occurs on 1 Observation Date

$380.00
A Coupon Barrier Event occurs on 2 Observation Dates

$360.00
A Coupon Barrier Event occurs on 3 Observation Dates

$340.00
A Coupon Barrier Event occurs on 4 Observation Dates

$320.00
A Coupon Barrier Event occurs on 5 Observation Dates

$300.00
A Coupon Barrier Event occurs on 6 Observation Dates

$280.00
A Coupon Barrier Event occurs on 7 Observation Dates

$260.00
A Coupon Barrier Event occurs on 8 Observation Dates

$240.00
A Coupon Barrier Event occurs on 9 Observation Dates

$220.00
A Coupon Barrier Event occurs on 10 Observation Dates

$200.00
A Coupon Barrier Event occurs on 11 Observation Dates

$180.00
A Coupon Barrier Event occurs on 12 Observation Dates

$160.00
A Coupon Barrier Event occurs on 13 Observation Dates

$140.00
A Coupon Barrier Event occurs on 14 Observation Dates

$120.00
A Coupon Barrier Event occurs on 15 Observation Dates

$100.00
A Coupon Barrier Event occurs on 16 Observation Dates

$80.00
A Coupon Barrier Event occurs on 17 Observation Dates

$60.00
A Coupon Barrier Event occurs on 18 Observation Dates

$40.00
A Coupon Barrier Event occurs on 19 Observation Dates

$20.00
A Coupon Barrier Event occurs on 20 Observation Dates

$0.00

3

T ABLE 4 : Hypothetical contingent coupon payments during the 3rd step-up period.

Cont inge nt Coupon Pa ym e nt s during
N um be r of Coupon Ba rrie r Eve nt s during t he 3 rd st e p -up pe riod

t he 3 rd st e p -up pe riod
A Coupon Barrier Event does not occur

$450.00
A Coupon Barrier Event occurs on 1 Observation Date

$427.50
A Coupon Barrier Event occurs on 2 Observation Dates

$405.00
A Coupon Barrier Event occurs on 3 Observation Dates

$382.50
A Coupon Barrier Event occurs on 4 Observation Dates

$360.00
A Coupon Barrier Event occurs on 5 Observation Dates

$337.50
A Coupon Barrier Event occurs on 6 Observation Dates

$315.00
A Coupon Barrier Event occurs on 7 Observation Dates

$292.50
A Coupon Barrier Event occurs on 8 Observation Dates

$270.00
A Coupon Barrier Event occurs on 9 Observation Dates

$247.50
A Coupon Barrier Event occurs on 10 Observation Dates

$225.00
A Coupon Barrier Event occurs on 11 Observation Dates

$202.50
A Coupon Barrier Event occurs on 12 Observation Dates

$180.00
A Coupon Barrier Event occurs on 13 Observation Dates

$157.50
A Coupon Barrier Event occurs on 14 Observation Dates

$135.00
A Coupon Barrier Event occurs on 15 Observation Dates

$112.50
A Coupon Barrier Event occurs on 16 Observation Dates

$90.00
A Coupon Barrier Event occurs on 17 Observation Dates

$67.50
A Coupon Barrier Event occurs on 18 Observation Dates

$45.00
A Coupon Barrier Event occurs on 19 Observation Dates

$22.50
A Coupon Barrier Event occurs on 20 Observation Dates

$0.00

The expected total contingent coupon payments over the term of the securities will depend on when and how many Coupon Barrier
Events occur. The total payment on the securities will be equal to the Redemption Amount applicable to an investor plus the total
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contingent coupon payments on the securities.

The following examples illustrate how the Redemption Amount is calculated.

Ex a m ple 1 : T he le ve l of t he U nde rlying inc re a se s by 2 0 % from t he I nit ia l Le ve l t o t he Fina l Le ve l. Since a Knock-In
Event has not occurred, the Redemption Amount is equal to the principal amount and the investor is entitled to receive at maturity a
payment in cash equal to $1,000 per $1,000 principal amount of securities.

Ex a m ple 2 : T he le ve l of t he U nde rlying de c re a se s by 1 0 % from t he I nit ia l Le ve l t o t he Fina l Le ve l. Since a Knock-In
Event has not occurred, the Redemption Amount is equal to the principal amount even though the Final Level is less than the Initial
Level and the investor is entitled to receive at maturity a payment in cash equal to $1,000 per $1,000 principal amount of securities.

Ex a m ple 3 : T he le ve l of t he U nde rlying de c re a se s by 6 0 % from t he I nit ia l Le ve l t o t he Fina l Le ve l, so a K noc k -I n
Eve nt oc c urs. Since a Knock-In Event has occurred, the investor is entitled to receive at maturity a payment in cash equal to $400 per
$1,000 principal amount of securities.

4

Se le c t e d Risk Conside ra t ions

An investment in the securities involves significant risks. Investing in the securities is not equivalent to investing directly in the
Underlying. These risks are explained in more detail in the "Risk Factors" section of the accompanying product supplement.

·
Y OU M AY RECEI V E LESS T H AN T H E PRI N CI PAL AM OU N T AT M AT U RI T Y -- You may receive less at maturity
than you originally invested in the securities, or you may receive nothing, excluding any accrued and unpaid contingent
coupons, if any. If the Final Level is less than the Knock-In Level, you will be fully exposed to any depreciation in the
Underlying. In this case, the Redemption Amount you will be entitled to receive 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 Knock-In Event will occur, and in
the event that there is a Knock-In Event, by how much the Final Level will decrease in comparison to the Initial Level. Any
payment on the securities is subject to our ability to pay our obligations as they become due.

·
T H E SECU RI T I ES WI LL N OT PAY M ORE T H AN T H E PRI N CI PAL AM OU N T , PLU S ACCRU ED AN D U N PAI D
CON T I N GEN T COU PON , I F AN Y , AT M AT U RI T Y OR U PON EARLY REDEM PT I ON -- The securities will not pay
more than the principal amount, plus accrued and unpaid contingent coupon, if any, at maturity or upon early redemption.
Even if the Final Level is greater than the Initial Level, you will not participate in the appreciation of the Underlying.
Assuming the securities are held to maturity and the term of the securities is exactly 15 years, the maximum amount payable
with respect to the securities is $2,200 for each $1,000 principal amount of the securities.

·
T H E SECU RI T I ES ARE SU BJ ECT T O T H E CREDI T RI SK OF CREDI T SU I SSE -- Although the return on the
securities will be based on the performance of the Underlying, the payment of any amount due on the securities, including
any applicable contingent coupon payments, if any, early redemption payment and payment at maturity, is subject to the
credit risk of Credit Suisse. Investors are dependent on our ability to pay all amounts due on the securities and, therefore,
investors are subject to our credit risk. 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.

·
I F A COU PON BARRI ER EV EN T OCCU RS ON AN Y OBSERV AT I ON DAT E, Y OU WI LL N OT RECEI V E AN Y
CON T I N GEN T COU PON PAY M EN T FOR T H E CORRESPON DI N G CON T I N GEN T COU PON PERI OD -- If a
Coupon Barrier Event occurs on an Observation Date, you will not receive any contingent coupon payment for the
corresponding contingent coupon period. For example, if a Coupon Barrier Event occurs on every Observation Date, you will
not receive any contingent coupon payments during the term of the securities.

·
T H E SECU RI T I ES ARE SU BJ ECT T O A POT EN T I AL EARLY REDEM PT I ON , WH I CH WOU LD LI M I T Y OU R
OPPORT U N I T Y T O ACCRU E CON T I N GEN T COU PON S OV ER T H E FU LL T ERM OF T H E SECU RI T I ES --The
securities are subject to a potential early redemption on any Contingent Coupon Payment Date scheduled to occur on or
after January 30, 2015, upon notice to the trustee on or before the immediately preceding Early Redemption Notice Date.
For example, it is more likely that Credit Suisse will redeem the securities prior to the Maturity Date at a time when Credit
Suisse believes it will be likely to make contingent coupon payments over the term of the securities and could issue a
comparable debt security with a lower Contingent Coupon Rate.
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If the securities are redeemed prior to the Maturity Date, you will be entitled to receive the principal amount of your securities
and any accrued and unpaid contingent coupon payable, if any, on that Contingent Coupon Payment Date. In this case, you
will lose the opportunity to continue to accrue and be paid contingent coupons from the date of Early Redemption to the
scheduled Maturity Date. If the securities are redeemed prior to the Maturity Date, you may be unable to invest in other
securities with a similar level of risk that yield as much contingent coupon as the securities.

·
T H E APPLI CABLE CON T I N GEN T COU PON RAT E APPLI CABLE AT A PART I CU LAR T I M E WI LL AFFECT
OU R DECI SI ON T O REDEEM T H E SECU RI T I ES -- It is more likely that we will redeem

5

the securities prior to their Maturity Date during periods when the remaining contingent coupons, if any, are to be paid on
the securities at a rate that is greater than that which we would pay on a conventional fixed-rate, non-callable debt security
of comparable maturity. If we redeem the securities prior to maturity, you may not be able to invest in other securities with a
similar level of risk that yield as much total contingent coupon payments as the securities.

·
T H E EST I M AT ED V ALU E OF T H E SECU RI T I ES ON T H E T RADE DAT E M AY BE LESS T H AN T H E PRI CE
T O PU BLI C -- The initial estimated value of your securities on the Trade Date (as determined by reference to our pricing
models and our internal funding rate) may be significantly less than the original Price to Public. The Price to Public of the
securities includes the agent's discounts or commissions as well as transaction costs such as expenses incurred to create,
document and market the securities and the cost of hedging our risks as issuer of the securities through one or more of our
affiliates (which includes a projected profit). These costs will be effectively borne by you as an investor in the securities.
These amounts will be retained by Credit Suisse or our affiliates in connection with our structuring and offering of the
securities (except to the extent discounts or commissions are reallowed to other broker-dealers or any costs are paid to third
parties).

On the Trade Date, we value the components of the securities in accordance with our pricing models. These include a fixed
income component valued using our internal funding rate, and individual option components valued using mid-market pricing.
Our option valuation models are proprietary. They take into account factors such as interest rates, volatility and time to
maturity of the securities, and they rely in part on certain assumptions about future events, which may prove to be incorrect.

Because Credit Suisse's pricing models may differ from other issuers' valuation models, and because funding rates taken
into account by other issuers may vary materially from the rates used by Credit Suisse (even among issuers with similar
creditworthiness), our estimated value at any time may not be comparable to estimated values of similar securities of other
issuers.

·
EFFECT OF I N T EREST RAT E U SED I N ST RU CT U RI N G T H E SECU RI T I ES -- The internal funding rate we use in
structuring notes such as these securities is typically lower than the interest rate that is reflected in the yield on our
conventional debt securities of similar maturity in the secondary market (our "secondary market credit spreads"). If on the
Trade Date our internal funding rate is lower than our secondary market credit spreads, we expect that the economic terms
of the securities will generally be less favorable to you than they would have been if our secondary market credit spread had
been used in structuring the securities. We will also use our internal funding rate to determine the price of the securities if we
post a bid to repurchase your securities in secondary market transactions. See "--Secondary Market Prices" below.

·
SECON DARY M ARK ET PRI CES -- If Credit Suisse (or an affiliate) bids for your securities in secondary market
transactions, which we are not obligated to do, the secondary market price (and the value used for account statements or
otherwise) may be higher or lower than the Price to Public and the estimated value of the securities on the Trade Date. The
estimated value of the securities on the cover of this pricing supplement does not represent a minimum price at which we
would be willing to buy the securities in the secondary market (if any exists) at any time. The secondary market price of your
securities at any time cannot be predicted and will reflect the then-current estimated value determined by reference to our
pricing models and other factors. These other factors include our internal funding rate, customary bid and ask spreads and
other transaction costs, changes in market conditions and any deterioration or improvement in our creditworthiness. In
circumstances where our internal funding rate is lower than our secondary market credit spreads, our secondary market bid
for your securities could be more favorable than what other dealers might bid because, assuming all else equal, we use the
lower internal funding rate to price the securities and other dealers might use the higher secondary market credit spread to
price them. Furthermore, assuming no change in market conditions from the Trade Date, the secondary market price of your
securities will be lower than the Price to Public because it will not include the agent's discounts or commissions and hedging
and other transaction costs. If you sell your securities to a dealer in a secondary market transaction, the dealer may impose
an additional discount or commission, and as a result the price you receive on your securities may be lower than the price at
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which we may repurchase the securities from such dealer.

6

We (or an affiliate) may initially post a bid to repurchase the securities from you at a price that will exceed the then-current
estimated value of the securities. That higher price reflects our projected profit and costs that were included in the Price to
Public, and that higher price may also be initially used for account statements or otherwise. We (or our affiliate) may offer to
pay this higher price, for your benefit, but the amount of any excess over the then-current estimated value will be temporary
and is expected to decline over a period of approximately 90 days.

The securities are not designed to be short-term trading instruments and any sale prior to maturity could result in a
substantial loss to you. You should be willing and able to hold your securities to maturity.

·
LACK OF LI QU I DI T Y -- The securities will not be listed on any securities exchange. Credit Suisse (or its affiliates)
intends to offer to purchase the securities in the secondary market but is not required to do so. Even if there is a secondary
market, it may not provide enough liquidity to allow you to trade or sell the securities when you wish to do so. Because other
dealers are not likely to make a secondary market for the securities, the price at which you may be able to trade your
securities is likely to depend on the price, if any, at which Credit Suisse (or its affiliates) is willing to buy the securities. If you
have to sell your securities prior to maturity, you may not be able to do so or you may have to sell them at a substantial loss.

·
POT EN T I AL CON FLI CT S -- We and our affiliates play a variety of roles in connection with the issuance of the
securities, including acting as calculation agent and as agent of the issuer for the offering of the securities and hedging our
obligations under the securities and determining their estimated value. In performing these duties, the economic interests of
us and our affiliates are potentially adverse to your interests as an investor in the securities. Further, hedging activities may
adversely affect any payment on or the value of the securities. Any profit in connection with such hedging activities will be in
addition to any other compensation that we and our affiliates receive for the sale of the securities, which creates an
additional incentive to sell the securities to you.

·
M AN Y ECON OM I C AN D M ARK ET FACT ORS WI LL AFFECT T H E V ALU E OF T H E SECU RI T I ES -- In addition
to the level of the Underlying, the value of the securities will be affected by a number of economic and market factors that
may either offset or magnify each other, including:

o
the expected volatility of the Underlying;

o
the time to maturity of the securities;

o
the Early Redemption feature, which would limit the value of the securities;

o
the dividend rate on the equity securities comprising the Underlying;

o
interest and yield rates in the market generally;

o
investors' expectations with respect to the rate of inflation;

o
geopolitical conditions and a variety of economic, financial, political, regulatory or judicial events that affect the
components comprising the Underlying or markets generally and which may affect the level of the Underlying; and

o
our creditworthiness, including actual or anticipated downgrades in our credit ratings.

Some or all of these factors may influence the price that you will receive if you choose to sell your securities prior to
maturity. The impact of any of the factors set forth above may enhance or offset some or all of any change resulting from
another factor or factors.

·
N O OWN ERSH I P RI GH T S RELAT I N G T O T H E U N DERLY I N G -- Your return on the securities will not reflect the
return you would realize if you actually owned the assets that comprise the Underlying. The return on your investment, which
is based on the percentage change in the Underlying, is not the

7

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same as the total return you would receive based on the purchase of the equity securities that comprise the Underlying.

·
N O DI V I DEN D PAY M EN T S OR V OT I N G RI GH T S -- As a holder of the securities, you will not have voting rights or
rights to receive cash dividends or other distributions or other rights with respect to the equity securities that comprise the
Underlying.

Supple m e nt a l U se of Proc e e ds a nd H e dging

We intend to use the proceeds of this offering for our general corporate purposes, which may include the refinancing of existing debt
outside Switzerland. Some or all of the proceeds we receive from the sale of the securities may be used in connection with hedging our
obligations under the securities through one or more of our affiliates. Such hedging or trading activities on or prior to the Trade Date and
during the term of the securities (including on any Observation Date) could adversely affect the value of the Underlying and, as a result,
could decrease the amount you may receive on the securities at maturity. For additional information, see "Supplemental Use of Proceeds
and Hedging" in the accompanying product supplement.

8

H ist oric a l I nform a t ion

The following graph sets forth the historical performance of the Underlying based on the closing level of the Underlying from January 2,
2009 through October 28, 2014. The closing level of the Underlying on October 28, 2014 was 1985.050. We obtained the historical
information below from Bloomberg, without independent verification.

You should not take the historical levels of the Underlying as an indication of future performance of the Underlying or the securities. Any
historical trend in the level of the Underlying during any period set forth below is not an indication that the level of the Underlying is more
or less likely to increase or decrease at any time over the term of the securities.

For additional information on the Underlying, see "The Reference Indices--The S&P Dow Jones Indices--The S&P 500 ® Index" in the
accompanying underlying supplement.

9

M a rk e t Disrupt ion Eve nt s

If the calculation agent determines that on any Observation Date, other than the Valuation Date, a market disruption event (as defined in
the accompanying product supplement under "Description of the Securities--Market disruption events--For an equity-based reference
index") exists or if such day is not a trading day (as defined in the accompanying product supplement under "Description of the
Securities--Certain definitions") for the Underlying, then the determination of the closing level for the Underlying on such Observation
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Date will be postponed to the first succeeding trading day for the Underlying on which the calculation agent determines that no market
disruption event exists in respect of the Underlying, unless the calculation agent determines that a market disruption event exists in
respect of the Underlying on each of the five trading days for the Underlying immediately following such Observation Date. In that case,
the closing level for the Underlying on such Observation Date will be determined as of the fifth succeeding trading day for the Underlying
following such Observation Date (such fifth trading day, the "calculation date"), notwithstanding the market disruption event in respect of
the Underlying, and the calculation agent will determine the closing level for the Underlying on that calculation date in accordance with
the formula for and method of calculating the Underlying last in effect prior to the commencement of the market disruption event in
respect of the Underlying using exchange traded prices on the relevant exchanges (as determined by the calculation agent in its sole
discretion) or, if trading in any component comprising the Underlying has been materially suspended or materially limited, its good faith
estimate of the prices that would have prevailed on such exchanges (as determined by the calculation agent in its sole discretion) but for
the suspension or limitation, as of the valuation time on that calculation date, of each component comprising the Underlying (subject to
the provisions described under "Description of the Securities--Changes to the calculation of a reference index" in the accompanying
product supplement).

If the determination of the closing level on an Observation Date other than the Valuation Date is postponed as a result of a market
disruption event as described above, or because such Observation Date is not a trading day, to a date on or after the corresponding
Contingent Coupon Payment Date, then such corresponding Contingent Coupon Payment Date will be postponed to the business day
following the latest date to which such determination is so postponed.

If the Valuation Date is postponed as a result of a market disruption event as described in the accompanying product supplement or
because the scheduled Valuation Date is not an underlying business day, then the Maturity Date will be postponed to the fifth business
day following the latest Valuation Date.

10

M a t e ria l U .S. Fe de ra l I nc om e T a x Conside ra t ions

The following discussion summarizes material U.S. federal income tax consequences of owning and disposing of the securities that may
be relevant to holders of the securities that acquire their securities from us as part of the original issuance of the securities. This
discussion applies only to holders that hold their securities as capital assets within the meaning of the Internal Revenue Code of 1986,
as amended (the "Code"). Further, this discussion does not address all of the U.S. federal income tax consequences that may be
relevant to you in light of your individual circumstances or if you are subject to special rules, such as if you are:

·
a financial institution,

·
a mutual fund,

·
a tax-exempt organization,

·
a grantor trust,

·
certain U.S. expatriates,

·
an insurance company,

·
a dealer or trader in securities or foreign currencies,

·
a person (including traders in securities) using a mark-to-market method of accounting,

·
a person who holds the securities as a hedge or as part of a straddle with another position, constructive sale, conversion
transaction or other integrated transaction, or

·
an entity that is treated as a partnership for U.S. federal income tax purposes.

The discussion is based upon the Code, law, regulations, rulings and decisions, in each case, as available and in effect as of the date
hereof, all of which are subject to change, possibly with retroactive effect. Tax consequences under state, local and foreign laws are not
addressed herein. No ruling from the U.S. Internal Revenue Service (the "IRS") has been sought as to the U.S. federal income tax
consequences of the ownership and disposition of the securities, and the following discussion is not binding on the IRS.

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