Bond Swiss Credit 0% ( US22548F2083 ) in USD

Issuer Swiss Credit
Market price refresh price now   100 %  ▲ 
Country  Switzerland
ISIN code  US22548F2083 ( in USD )
Interest rate 0%
Maturity 30/06/2025



Prospectus brochure of the bond Credit Suisse US22548F2083 en USD 0%, maturity 30/06/2025


Minimal amount 1 000 USD
Total amount 5 833 000 USD
Cusip 22548F208
Standard & Poor's ( S&P ) rating N/A
Moody's rating NR
Detailed description 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 US22548F2083, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Bond maturity is 30/06/2025

The Bond issued by Swiss Credit ( Switzerland ) , in USD, with the ISIN code US22548F2083, was rated NR by Moody's credit rating agency.







424B2 1 dp57377_424b2-t557.htm FORM 424B2

PRICING SUPPLEMENT No. T557
Filed Pursuant to Rule 424(b)(2)
Registration Statement Nos. 333-202913 and 333-180300-03
Dated June 25, 2015
Credit Suisse AG $5,832,740 Trigger Performance Securities
Linked to the Performance of the Russell 2000® Index due June 30, 2025
Principal at Risk Securities
I nve st m e nt De sc ript ion
These Trigger Performance Securities (the "Securities") are senior, unsecured obligations of Credit Suisse AG, acting through its
London Branch ("Credit Suisse" or the "Issuer") linked to the performance of the Russell 2000® Index (the "Underlying"). The
Securities will rank pari passu with all of our other senior unsecured obligations. If the Underlying Return is greater than zero,
Credit Suisse will pay the Principal Amount at maturity plus a return equal to the product of (i) the Principal Amount multiplied by (ii)
the Underlying Return multiplied by (iii) the Upside Participation Rate of 142%. If the Underlying Return is equal to or less than
zero, Credit Suisse will either pay the full Principal Amount at maturity, or, if the Final Level is less than the Trigger Level, Credit
Suisse will pay less than the full Principal Amount at maturity, if anything, resulting in a loss of principal that is proportionate to the
full depreciation of the Underlying. In that case, you will lose a significant amount and possibly all of your investment. I nve st ing in
t he Se c urit ie s involve s signific a nt risk s. Y ou w ill not re c e ive int e re st or divide nd pa ym e nt s during t he t e rm
of t he Se c urit ie s. Y ou m a y lose som e or a ll of your Princ ipa l Am ount . 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. 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
Participation in Positive Underlying Returns: If the
Trade Date
June 25, 2015
Underlying Return is greater than zero, Credit Suisse will pay
Settlement Date
June 30, 2015
the Principal Amount at maturity plus a return equal to the
Valuation Date*
June 24, 2025
Underlying Return multiplied by the Upside Participation Rate.
Maturity Date*
June 30, 2025
If the Underlying Return is less than zero, investors may be
* Subject to postponement as set forth in the
exposed to the negative Underlying Return at maturity.
accompanying product supplement under "Description of the

Securities--Postponement of calculation dates."
Contingent Repayment of Principal at Maturity: If the
Underlying Return is equal to or less than zero and the Final
Level is not less than the Trigger Level, Credit Suisse will pay
you the Principal Amount at maturity. However, if the Final
Level is less than the Trigger Level, Credit Suisse will pay you
less than your full Principal Amount, if anything, resulting in a
loss of your principal that is proportionate to the full
depreciation of the Underlying. The contingent repayment of
principal applies only if you hold the Securities to 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 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 5 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,
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the product supplement, the prospectus supplement and the prospectus. Any representation to the contrary is a criminal offense.
Se c urit y Offe ring
This pricing supplement relates to Securities linked to the performance of the Russell 2000® Index. The Upside Participation Rate,
Initial Level and Trigger Level for the Securities are listed below. The Securities are not subject to a predetermined maximum gain
and, accordingly, any return at maturity will be determined by the performance of the Underlying. 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.
U nde rlying
I nit ia l Le ve l U pside Pa rt ic ipa t ion Ra t e
T rigge r Le ve l
CU SI P
I SI N
Russell 2000®
641.641 (50% of the
1283.281
142%
22548F208
US22548F2083
Index
Initial 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 .0 6 7 (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
U nde rw rit ing
Disc ount a nd
Proc e e ds t o Cre dit
Pric e t o Public
Com m issions(1)
Suisse AG

T ot a l
Pe r
T ot a l
Pe r
T ot a l
Pe r
Se c urit y
Se c urit y
Se c urit y
Securities Linked to the Performance of the Russell $5,832,740
$10.00
$291,637
$0.50
$5,541,103
$9.50
2000® Index due June 30, 2025
(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 $0.50 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 .




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.
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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:


¨ You fully understand the risks inherent in an investment in the ¨ You do not fully understand the risks inherent in an
Securities, including the risk of loss of your entire initial
investment in the Securities, including the risk of loss of your
investment.
entire initial investment.


¨ You can tolerate a loss of all or a substantial portion of your
¨ You seek an investment designed to provide a full return of
investment and are willing to make an investment that may
principal at maturity.
be exposed to the full depreciation of the Underlying.


¨ You cannot tolerate a loss of all or a substantial portion of
¨ You are willing to forgo any dividends paid on the equity
your investment, and you are not willing to make an
securities included in the Underlying.
investment that may be exposed to the full depreciation of

the Underlying.
¨ You are willing to hold the Securities to maturity as stated on

the cover hereof, and accept that there may be little or no
¨ You prefer to receive the dividends paid on the equity
secondary market for the Securities.
securities included in the Underlying.


¨ You believe the Underlying will appreciate over the term of the ¨ You are unable or unwilling to hold the Securities to maturity
Securities and you are willing to invest in the Securities
as stated on the cover hereof, or you seek an investment for
based on the Upside Participation Rate specified on the
which there will be an active secondary market for the
cover hereof.
Securities.


¨ You can tolerate fluctuations of the price of the Securities prior ¨ You believe that the Underlying will depreciate during the term
to maturity that may be similar to or exceed the downside
of the Securities and is likely to close at or below the Trigger
fluctuations in the level of the Underlying.
Level on the Valuation Date.


¨ You do not seek current income from your investment.
¨ You are not willing to invest in the Securities based on the

Upside Participation Rate specified on the cover hereof.
¨ You seek an investment with exposure to small market

capitalization companies in the United States.
¨ You prefer the lower risk, and, therefore, accept the potentially

lower returns, of conventional debt securities with
¨ You are willing to assume the credit risk of Credit Suisse for
comparable maturities issued by Credit Suisse or another
all payments under the Securities, and understand that the
issuer with a similar credit rating.
payment of any amount due on the Securities is subject to

the credit risk of Credit Suisse.
¨ You seek current income from your investment.


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¨ You do not seek an investment with exposure to small market
capitalization companies in the United States.

¨ You are unwilling to assume the credit risk of Credit Suisse for
all payments under the Securities.

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 "K e y Risk s" be ginning on pa ge 5 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
I nve st m e nt T im e line

Issuer
Credit Suisse AG ("Credit Suisse"), acting
through its London Branch.
Principal Amount
$10.00 per Security
Term
Approximately 10 years. In the event that
we make any change to the expected
Settlement Date, the calculation agent
may adjust the Valuation Date and
Maturity Date to ensure that the stated
term of the Securities remains the same.
Underlying
Russell 2000® Index
Trigger Level
50% of the Initial Level, as specified on
the first page of this pricing supplement.
Upside
142%
Participation Rate
Payment at
I f t he U nde rlying Re t urn is gre a t e r
Maturity (per
t ha n ze ro , Credit Suisse will pay you a
Security)
cash payment calculated as follows:

$10 + [$10 × (Underlying Return ×
Upside Participation Rate)]

I f t he U nde rlying Re t urn is e qua l
t o or le ss t ha n ze ro a nd t he Fina l
Le ve l is e qua l t o or gre a t e r t ha n
t he T rigge r Le ve l, Credit Suisse will
pay you a cash payment of:

$10

I f t he Fina l Le ve l is le ss t ha n t he
T rigge r Le ve l, Credit Suisse will pay
you a cash payment calculated as
follows:

$10 + ($10 × Underlying Return)

I n t his c a se , you c ould lose up t o
a ll of your Princ ipa l Am ount in a n
a m ount proport iona t e t o t he
ne ga t ive U nde rlying Re t urn.

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Underlying Return
Final Level ­ Initial Level

Initial Level

Initial Level
The Closing Level of the Underlying on
the Trade Date, as specified on the first
page of this pricing supplement.
Final Level
The Closing Level of the Underlying on
the Valuation Date.
Valuation Date(1)
June 24, 2025
Maturity Date(1)
June 30, 2025
CUSIP / ISIN
22548F208 / US22548F2083
(1) Subject to the market disruption event provisions set forth in
the accompanying product supplement under "Description of the
Securities--Market disruption events."

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 Y OU R EN T I RE 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 T H E ABI LI T Y OF CREDI T SU I SSE 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
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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.

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

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

4


K e y Risk s

An investment in the offering of the Securities involves significant risks. Investing in the Securities is not equivalent to investing in
the Underlying. 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 is less than the Trigger Level, you will be fully exposed to any
depreciation in the Underlying and will incur a loss proportionate to the Underlying Return. 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 the Final Level will be less than the Trigger Level, and in that case, 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 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 do not pa y int e re st -- We will not pay interest on the Securities. You may receive less at maturity than
you could have earned on ordinary interest-bearing debt securities with similar maturities, including other of our debt securities,
since the Payment at Maturity is based on the performance of the Underlying. Because the Payment at Maturity may be less
than the amount originally invested in the Securities, the return on the Securities (the effective yield to maturity) may be
negative. Even if it is positive, the return payable on each Security may not be enough to compensate you for any loss in value
due to inflation and other factors relating to the value of money over time.

¨
T he st a t e d pa yout from t he I ssue r a pplie s only if you hold t he Se c urit ie s t o m a t urit y -- The value of the
Securities prior to maturity may be less than the initial investment amount and substantially different than the amount expected
at maturity. If you are able to sell your Securities prior to maturity in the secondary market, your return may be less than the
Underlying Return and you may receive less than your initial investment amount even if the level of the Underlying is greater
than the Trigger Level at that time. The stated payout on the Securities, including the application of the Trigger Level and
Upside Participation Rate, applies only if you hold the Securities to maturity.

¨
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
less liquidity than the equity securities of large-capitalization companies, and are more vulnerable to adverse business and
economic developments than those of large-capitalization companies. In addition, small-capitalization companies are typically
less established and less stable financially than large-capitalization companies. These companies may depend on a small
number of key personnel, making them more vulnerable to loss of personnel. Such companies tend to have smaller revenues,
less diverse product lines, smaller shares of their product or service markets, fewer financial resources and less competitive
strengths than large-capitalization companies and are more susceptible to adverse developments related to their products.
Therefore, the Russell 2000® Index may be more volatile than it would be if it were composed of equity securities issued by
http://www.sec.gov/Archives/edgar/data/1053092/000095010315005110/dp57377_424b2-t557.htm[6/29/2015 4:51:58 PM]


large-capitalization companies.

¨
T he e st im a t e d va lue of t he Se c urit ie s on t he T ra de Da t e m a y be le ss t ha n t he Pric e t o Public -- 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.

5



¨
Effe c t of int e re st ra t e use d in st ruc t uring t he Se c urit ie s -- 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.

¨
Se c onda ry m a rk e t pric e s -- 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 which we may
repurchase the Securities from such dealer.
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 12 months.
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.

¨
Cre dit Suisse is subje c t t o Sw iss re gula t ion -- As a Swiss bank, Credit Suisse is subject to regulation by
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governmental agencies, supervisory authorities and self-regulatory organizations in Switzerland. Such regulation is increasingly
more extensive and complex and subjects Credit Suisse to risks. For example, pursuant to Swiss banking laws, the Swiss
Financial Market Supervisory Authority (FINMA) may open resolution proceedings if there are justified concerns that Credit
Suisse is over-indebted, has serious liquidity problems or no longer fulfills capital adequacy requirements. FINMA has broad
powers and discretion in the case of resolution proceedings, which include the power to convert debt instruments and other
liabilities of Credit Suisse into equity and/or cancel such liabilities in whole or in part. If one or more of these measures were
imposed, such measures may adversely affect the terms and market value of the Securities and/or the ability of Credit Suisse
to make payments thereunder and you may not receive any amounts owed to you under the Securities.

¨
La c k of liquidit 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 e nt ia l c onflic t s -- We and our affiliates play a variety of roles in connection with the issuance of the Securities,
including acting as calculation agent, 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.

¨
U npre dic t a ble e c onom ic a nd m a rk e t fa c t ors w ill a ffe c t t he va lue of t he Se c urit ie s -- In addition to the level
of the Underlying, the value of the Securities may be influenced by factors such as:

o
the expected and actual volatility of the Underlying;

o
the time to maturity of the Securities;

o
interest and yield rates in the market generally;

6



o
geopolitical conditions and economic, financial, political, regulatory or judicial events that affect the components
included in the Underlying or markets generally and which may affect the levels 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,
and such price could be less than your initial investment and significantly different than the amount expected at 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 ow ne rship right s re la t ing t o t he U nde rlying -- 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 same as the total return you would receive based on the purchase of the
equity securities that comprise the Underlying.

¨
N o divide nd pa ym e nt s or vot ing right 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.
Further, the performance of the Underlying will not include these dividends or distributions and does not contain a "total return"
feature.

7


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H ypot he t ic a l Ex a m ple s of H ow t he Se c urit ie s M ight Pe rform

The examples and table below illustrate Payments at Maturity for a hypothetical offering of the Securities under various scenarios,
with the assumptions set forth below. Numbers in the examples and table below have been rounded for ease of analysis. You
should not take these examples or the table below as an indication or assurance of the expected performance of the Underlying.
The actual terms are set forth on the cover of this pricing supplement and under "Final Terms" above. 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.

Principal Amount:
$10.00
Term:
Approximately 10 years
Trigger Level:
50% of the hypothetical Initial Level
Upside Participation Rate:
142%

Ex a m ple 1 -- T he le ve l of t he U nde rlying increases by 1 0 % from t he I nit ia l Le ve l t o t he Fina l Le ve l. The
Underlying Return is greater than zero, and the Payment at Maturity is calculated as follows:

Underlying Return = 10.00%

Payment at Maturity = $10 + [$10 × (10% × 142%)] = $11.42

Because the Underlying Return is equal to 10%, the Payment at Maturity is equal to $11.42 per $10.00 Principal Amount of
Securities, resulting in a total return on the Securities of 14.20%.

Ex a m ple 2 -- T he le ve l of t he U nde rlying decreases by 3 0 % from t he I nit ia l Le ve l t o t he Fina l Le ve l. The
Underlying Return is negative, and the Payment at Maturity is calculated as follows:

Underlying Return = -30%

Payment at Maturity = $10.00

Because the Underlying Return is less than zero, but the Final Level is greater than the Trigger Level, Credit Suisse will pay you a
Payment at Maturity equal to $10.00 per $10.00 Principal Amount of Securities, resulting in a zero percent return on the Securities.

Ex a m ple 3 -- T he le ve l of t he U nde rlying decreases by 6 0 % from t he I nit ia l Le ve l t o t he Fina l Le ve l. The
Underlying Return is negative, and the Payment at Maturity is calculated as follows:

Underlying Return = -60%

Payment at Maturity = $10 + ($10 × -60%) = $4.00

Because the Underlying Return is less than zero and the Final Level is less than the Trigger Level, the Securities will be fully
exposed to any decline in the level of the Underlying as of the Valuation Date. Therefore, the Payment at Maturity is equal to $4.00
per $10.00 Principal Amount of Securities, resulting in a total loss on the Securities of 60%.

If the Final Level is less than the Trigger Level, the Securities will be fully exposed to any decline in the Underlying, and
you will lose a significant portion or all of your Principal Amount at maturity.

8


Hypothetical Payment at Maturity for each $10.00 Principal Amount of Securities.

The table below illustrates, for a $10.00 investment in the Securities, hypothetical Payments at Maturity for a hypothetical range of
Underlying Returns. The hypothetical Payments at Maturity set forth below are for illustrative purposes only. The actual Payment at
Maturity applicable to a purchaser of the Securities will depend on the Final 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 table below have been rounded for ease of analysis.

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Pa ym e nt a t
Re t urn on t he
M a t urit y pe r $ 1 0
U nde rlying Re t urn
Se c urit ie s
Princ ipa l Am ount
100.00%
142.00%
$24.20
90.00%
127.80%
$22.78
80.00%
113.60%
$21.36
70.00%
99.40%
$19.94
60.00%
85.20%
$18.52
50.00%
71.00%
$17.10
40.00%
56.80%
$15.68
30.00%
42.60%
$14.26
20.00%
28.40%
$12.84
10.00%
14.20%
$11.42
0 .0 0 %
0 .0 0 %
$ 1 0 .0 0
-10.00%
0.00%
$10.00
-20.00%
0.00%
$10.00
-30.00%
0.00%
$10.00
-40.00%
0.00%
$10.00
-5 0 .0 0 %
0 .0 0 %
$ 1 0 .0 0
-50.01%
-50.01%
$4.99
-60.00%
-60.00%
$4.00
-70.00%
-70.00%
$3.00
-80.00%
-80.00%
$2.00
-90.00%
-90.00%
$1.00
-100.00%
-100.00%
$0.00

9


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

T he U nit e d St a t e s fe de ra l inc om e t a x c onse que nc e s of your inve st m e nt in t he Se c urit ie s a re unc e rt a in.
Som e of t he se t a x c onse que nc e s a re sum m a rize d be low , but w e urge you t o re a d t he m ore de t a ile d
disc ussion in "M a t e ria l U nit e d St a t e s Fe de ra l I nc om e T a x Conside ra t ions" be ginning on pa ge PS-5 3 of t he
a c c om pa nying produc t supple m e nt a nd t o disc uss t he t a x c onse que nc e s of your pa rt ic ula r sit ua t ion w it h
your t a x a dvisor.

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,

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