Bond Swiss Credit 20.3% ( US22549JQ601 ) in USD

Issuer Swiss Credit
Market price 100 %  ▲ 
Country  Switzerland
ISIN code  US22549JQ601 ( in USD )
Interest rate 20.3% per year ( payment 2 times a year)
Maturity 16/05/2022 - Bond has expired



Prospectus brochure of the bond Credit Suisse US22549JQ601 in USD 20.3%, expired


Minimal amount 1 000 USD
Total amount 3 434 000 USD
Cusip 22549JQ60
Standard & Poor's ( S&P ) rating N/A
Moody's rating N/A
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 US22549JQ601, pays a coupon of 20.3% per year.
The coupons are paid 2 times per year and the Bond maturity is 16/05/2022







424B2 1 dp106709_424b2-f886.htm FORM 424B2

Pric ing Supple m e nt N o. F8 8 6
Filed Pursuant to Rule 424(b)(2)
To Product Supplement No. I­A dated June 30, 2017,
Registration Statement No. 333-218604-02
Prospectus Supplement dated June 30, 2017 and
May 9, 2019
Prospectus dated June 30, 2017

Fina nc ia l
Produc t s

$ 3 ,4 3 4 ,0 0 0
Cont inge nt Coupon Aut oc a lla ble Re ve rse Conve rt ible Se c urit ie s due M a y 1 6 , 2 0 2 2 Link e d t o
t he Pe rform a nc e of t he Low e st Pe rform ing of Five U nde rlyings
·
The securities do not guarantee any return of principal or delivery of securities at maturity and do not provide for the regular
payment of interest.
·
If these securities have not been previously automatically redeemed and if a Coupon Barrier Event has not occurred on an
Observation Date, we will pay a contingent coupon on the immediately following Contingent Coupon Payment Date in an
amount of $50.75 (equivalent to approximately 20.30% per annum) per $1,000 principal amount of securities. If a Coupon
Barrier Event has occurred on an Observation Date, no contingent coupon will be paid with respect to that Observation Date.
Contingent coupons should not be viewed as ordinary periodic interest payments.
·
If a Trigger Event occurs, the securities will be automatically redeemed and you will receive a cash payment equal to the
principal amount of the securities you hold and the contingent coupon payable on the immediately following Contingent Coupon
Payment Date. No further payments will be made following an Automatic Redemption.
·
Investors should be willing to (i) forgo dividends and the potential to participate in any appreciation of any Underlying, (ii) accept
the risks of owning equities in general and the Lowest Performing Underlying in particular and (iii) if a Knock-In Event has
occurred, lose some or all of their investment, excluding contingent coupons on the securities, if any.
·
Senior unsecured obligations of Credit Suisse maturing May 16, 2022. Any payment or delivery on the securities is subject to
our ability to meet our obligations as they become due.
·
Minimum purchase of $1,000. Minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof.
·
The offering price for the securities was determined on May 9, 2019 (the "Trade Date"), and the securities are expected to
settle on May 14, 2019 (the "Settlement Date"). Delivery of the securities in book-entry form only will be made through The
Depository Trust Company.
·
The securities will not be listed on any exchange.
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" be ginning on
pa ge 5 of t his pric ing supple m e nt a nd "Risk Fa c t ors" be ginning on pa ge PS-3 of a ny 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 the accuracy or the adequacy of this pricing supplement or any accompanying product supplement, the
prospectus supplement and the prospectus. Any representation to the contrary is a criminal offense.

Pric e t o Public (1)
U nde rw rit ing Disc ount s a nd Com m issions(2)
Proc e e ds t o I ssue r
Pe r se c urit y
$ 1 ,0 0 0
$ 4 0
$ 9 6 0
T ot a l
$ 3 ,4 3 4 ,0 0 0
$ 1 3 7 ,3 6 0
$ 3 ,2 9 6 ,6 4 0
(1) Certain fiduciary accounts may pay a purchase price of at least $960 per $1,000 principal amount of securities.
(2) We or one of our affiliates will pay discounts and commissions of $40 per $1,000 principal amount of securities. CSSU or
another broker or dealer will forgo some or all discounts and commissions with respect to the sales of securities into certain
fiduciary accounts. For more detailed information, please see "Supplemental Plan of Distribution (Conflicts of Interest)" in 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)" in 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 $ 9 5 7 .1 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 .
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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.
Cre dit Suisse
May 9, 2019


K e y T e rm s
Issuer:
Credit Suisse AG ("Credit Suisse"), acting through its London branch
Reference Share Issuer:
For each Underlying, the issuer of such Underlying.
Underlyings:
The securities are linked to the performance of the lowest performing of the Underlyings set forth in the
table below. For additional information on the Underlyings, see "The Underlyings" herein. Each
Underlying is identified in the table below, together with its Bloomberg ticker symbol, Initial Level,
Knock-In Level, Coupon Barrier Level and Trigger Level:

K noc k -I n
Coupon Ba rrie r
U nde rlyings
T ic k e r
I nit ia l Le ve l
Le ve l
Le ve l
T rigge r Le ve l

$ 1 4 0 .5 0 4
Com m on st oc k of
AAPL U W
$ 1 4 0 .5 0 4 (7 0 % of
$ 1 8 0 .6 4 8 (9 0 % of
$ 2 0 0 .7 2
(7 0 % of I nit ia l
Apple I nc .
<Equit y>
I nit ia l Le ve l)
I nit ia l Le ve l)
Le ve l)

$ 1 ,3 2 9 .9 0 9
Com m on st oc k of
AM Z N U W
$ 1 ,3 2 9 .9 0 9 (7 0 % of
$ 1 ,7 0 9 .8 8 3 (9 0 % of
$ 1 ,8 9 9 .8 7
(7 0 % of I nit ia l
Am a zon.c om , I nc .
<Equit y>
I nit ia l Le ve l)
I nit ia l Le ve l)
Le ve l)

Cla ss A c om m on
$ 1 3 2 .0 5 5
FB U W
$ 1 3 2 .0 5 5 (7 0 % of
$ 1 6 9 .7 8 5 (9 0 % of
st oc k of Fa c e book ,
$ 1 8 8 .6 5
(7 0 % of I nit ia l
<Equit y>
I nit ia l Le ve l)
I nit ia l Le ve l)
I nc .
Le ve l)

Cla ss A c om m on
$ 8 1 7 .5 7 9
GOOGL U W
$ 8 1 7 .5 7 9 (7 0 % of
$ 1 ,0 5 1 .1 7 3 (9 0 % of
st oc k of Alpha be t
$ 1 ,1 6 7 .9 7
(7 0 % of I nit ia l
<Equit y>
I nit ia l Le ve l)
I nit ia l Le ve l)
I nc .
Le ve l)

$ 2 5 3 .9 2 5
Com m on st oc k of
N FLX U W
$ 2 5 3 .9 2 5 (7 0 % of
$ 3 2 6 .4 7 5 (9 0 % of
$ 3 6 2 .7 5
(7 0 % of I nit ia l
N e t flix , I nc .
<Equit y>
I nit ia l Le ve l)
I nit ia l Le ve l)
Le ve l)
Contingent Coupons:
If these securities have not been previously automatically redeemed and if a Coupon Barrier Event has
not occurred on an Observation Date, we will pay a contingent coupon on the immediately following
Contingent Coupon Payment Date in an amount of $50.75 (equivalent to approximately 20.30% per
annum) per $1,000 principal amount of securities. If a Coupon Barrier Event has occurred on an
Observation Date, no contingent coupon will be paid with respect to that Observation Date.
If any Contingent Coupon Payment Date is not a business day, the contingent coupon will be payable
on the first following business day, unless that business day falls in the next calendar month, in which
case payment will be made on the first preceding business day. The amount of any contingent coupon
will not be adjusted with respect to any postponement of a Contingent Coupon Payment Date and no
interest or other payment will be payable hereon because of any such postponement of a Contingent
Coupon Payment Date. No contingent coupons will be payable following an Automatic Redemption.
Contingent coupons, if any, will be payable on the applicable Contingent Coupon Payment Date to the
holder 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 Automatic
Redemption Date or Maturity Date, as applicable, will be payable to the person to whom the Automatic
Redemption Amount or the Redemption Amount, as applicable, is payable.
Coupon Barrier Event:
A Coupon Barrier Event will occur if, on any Observation Date, the closing level of any Underlying on
such Observation Date is less than its Coupon Barrier Level.
Redemption Amount:
If these securities have not been previously automatically redeemed, at maturity, the Redemption
Amount you will receive will depend on the individual performance of each Underlying and whether a
Knock-In Event has occurred. For each $1,000 principal amount of securities, the cash or shares to be
paid or delivered will be determined as follows:

· If a Knock-In Event has not occurred, a cash payment equal to $1,000. T he re fore , you w ill not
pa rt ic ipa t e in a ny a ppre c ia t ion of a ny U nde rlying.
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· If a Knock-In Event has occurred, the Physical Delivery Amount, plus a cash amount in respect of
any fractional share, subject to our election to pay cash instead as noted below. For more information
see "Physical Delivery Amount" below. I f a K noc k -I n Eve nt ha s oc c urre d, you c ould
re c e ive t he sha re s of t he Low e st Pe rform ing U nde rlying w it h a va lue lik e ly t o be
le ss t ha n $ 7 0 0 . Y ou c ould lose your e nt ire inve st m e nt .

Any payment or delivery on the securities is subject to our ability to meet our obligations as they
become due.



Physical Delivery
The Physical Delivery Amount per $1,000 principal amount of securities is a number of shares of the
Amount:
Lowest Performing Underlying rounded down to the nearest whole number and equal to the product of
(i) $1,000 divided by the Initial Level of the Lowest Performing Underlying and (ii) the applicable share
adjustment factor. Each share adjustment factor is initially set equal to 1.0 on the Trade Date, subject to
adjustment as described under "Description of the Securities--Adjustments" in the relevant product
supplement. In lieu of any fractional shares in respect of the Physical Delivery Amount we will pay a
cash amount equal to such fractional share multiplied by the Final Level of the Lowest Performing
Underlying. If the fractional share amount to be paid in cash is a de minimis amount, as determined by
the calculation agent, the holder will not receive such amount. If the Physical Delivery Amount is less
than one share, the Redemption Amount will be paid in cash. Therefore, if the Initial Level of the
Lowest Performing Underlying is greater than $1,000, the Redemption Amount will be paid in cash,
unless the share adjustment factor increases by an amount sufficient to result in the delivery of at least
one share. The Physical Delivery Amount (together with any cash amount paid in lieu of fractional
shares) will be determined for each $1,000 principal amount of securities you hold. At our election, you
may receive cash instead of the Physical Delivery Amount, in an amount equal to the product of (i)
$1,000 divided by the Initial Level of the Lowest Performing Underlying and (ii) the Final Level of the
Lowest Performing Underlying. If we exercise our option to deliver cash, we will give notice of our
election at least one business day before the Valuation Date.
Automatic Redemption:
If a Trigger Event occurs, the securities will be automatically redeemed and you will receive a cash
payment equal to $1,000 for each $1,000 principal amount of the securities (the "Automatic Redemption
Amount") and the contingent coupon payable, if any, on the immediately following Contingent Coupon
Payment Date. No further payments will be made with respect to the securities. Payment will be made
in respect of such Automatic Redemption on the Contingent Coupon Payment Date immediately
following the relevant Trigger Observation Date (the "Automatic Redemption Date"). Any payment or
delivery on the securities is subject to our ability to meet our obligations as they become due.
Trigger Event:
A Trigger Event will occur if, on any Trigger Observation Date, the closing level of each Underlying on
such Trigger Observation Date is equal to or greater than its respective Trigger Level.
Knock-In Event:
A Knock-In Event will occur if the Final Level of any Underlying is less than its Knock-In Level.
Lowest Performing
Underlying:
The Underlying with the lowest Underlying Return.
Underlying Return:
For each Underlying, the lesser of (i) zero and (ii) an amount calculated as follows:

Final Level - Initial Level
Initial Level
Initial Level:
For each Underlying, the closing level of such Underlying on the Trade Date, as set forth in the table
above.
Final Level:
For each Underlying, the closing level of such Underlying on the Valuation Date.
Valuation Date:
May 11, 2022, subject to postponement as set forth in any accompanying product supplement under
"Description of the Securities--Postponement of calculation dates."
Maturity Date:
May 16, 2022, subject to postponement as set forth in any accompanying product supplement under
"Description of the Securities--Postponement of calculation dates." If the Maturity Date is not a
business day, the Redemption Amount will be payable on the first following business day, unless that
business day falls in the next calendar month, in which case payment will be made on the first
preceding business day.
CUSIP:
22549JQ60

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Key Dates:
Each Observation Date, Trigger Observation Date and Contingent Coupon Payment Date is set forth in
the table below. The Key Dates are subject to postponement as set forth in any accompanying product
supplement under "Description of the Securities--Postponement of calculation dates."
Cont inge nt Coupon Pa ym e nt

Obse rva t ion Da t e s
T rigge r Obse rva t ion Da t e s
Da t e s

August 9, 2019
August 9, 2019
August 14, 2019

November 11, 2019
November 11, 2019
November 14, 2019

February 11, 2020
February 11, 2020
February 14, 2020

May 11, 2020
May 11, 2020
May 14, 2020

August 11, 2020
August 11, 2020
August 14, 2020

November 11, 2020
November 11, 2020
November 16, 2020

February 10, 2021
February 10, 2021
February 16, 2021

May 11, 2021
May 11, 2021
May 14, 2021

August 11, 2021
August 11, 2021
August 16, 2021

November 10, 2021
November 10, 2021
November 15, 2021

February 9, 2022
February 9, 2022
February 14, 2022

Valuation Date

Maturity Date



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 product supplement dated June 30, 2017, the prospectus supplement
dated June 30, 2017 and the prospectus dated June 30, 2017, 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):

·
Product Supplement No. I­A dated June 30, 2017:
http://www.sec.gov/Archives/edgar/data/1053092/000095010317006315/dp77780_424b2-ia.htm

·
Prospectus Supplement and Prospectus dated June 30, 2017:
http://www.sec.gov/Archives/edgar/data/1053092/000104746917004364/a2232566z424b2.htm

In the event the terms of the securities described in this pricing supplement differ from, or are inconsistent with, the terms
described in any product supplement, the prospectus supplement or prospectus, the terms described in this pricing supplement will
control.

Our Central Index Key, or CIK, on the SEC website is 1053092. As used in this pricing supplement, "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 "Selected Risk Considerations" in this pricing supplement and "Risk Factors" in any accompanying
product 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.

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Prohibit ion of Sa le s t o EEA Re t a il I nve st ors

The securities may not be offered, sold or otherwise made available to any retail investor in the European Economic Area. For the
purposes of this provision:

(a) the expression "retail investor" means a person who is one (or more) of the following:

(i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); or
(ii) a customer within the meaning of Directive 2002/92/EC, where that customer would not qualify as a professional client
as defined in point (10) of Article 4(1) of MiFID II; or
(iii) not a qualified investor as defined in Directive 2003/71/EC; and

(b) the expression "offer" includes the communication in any form and by any means of sufficient information on the terms of the
offer and the securities offered so as to enable an investor to decide to purchase or subscribe 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 performances of the Lowest Performing Underlying and, in the case of Table 2, total contingent
coupons over the term of the securities, which will depend on the number of Coupon Barrier Events that have occurred over the
term of the securities. The tables and examples below assume (i) if a Coupon Barrier Event does not occur on an Observation
Date, a contingent coupon of $50.75 per $1,000 principal amount of securities will be paid on the immediately following Contingent
Coupon Payment Date, (ii) the securities are not automatically redeemed prior to maturity, (iii) the term of the securities is exactly
three years, (iv) the Knock-In Level for each Underlying is 70% of the Initial Level of such Underlying, (v) the Lowest Performing
Underlying is the Class A common stock of Facebook, Inc., (vi) the hypothetical Initial Level of the Lowest Performing Underlying is
$190, (vii) a share adjustment factor of 1.0 and (viii) if the Physical Delivery Amount is to be delivered at maturity, we do not
exercise our right to pay cash instead of the Physical Delivery Amount. The actual contingent coupon amount and Knock-In Levels
are set forth in "Key Terms" herein. 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.

The hypothetical Redemption Amounts and total contingent coupons set forth below are for illustrative purposes only. The actual
Redemption Amount and total contingent coupons applicable to a purchaser of the securities will depend on the number of Coupon
Barrier Events that have occurred over the term of the securities, whether a Knock-In Event has occurred and on the Final Level of
the Lowest Performing Underlying. 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 level of the Lowest Performing
Underlying has decreased from its Initial Level to its Final Level. Furthermore, it is not possible to predict whether a Trigger Event
will occur. If a Trigger Event occurs, the securities will be automatically redeemed for a cash payment equal to the principal amount
of the securities you hold and the contingent coupon payable and no further payments will be made in respect of the securities. If
the Physical Delivery Amount is less than one share, the Redemption Amount will be paid in cash. Therefore, if the Initial Level of
the Lowest Performing Underlying is greater than $1,000, the Redemption Amount will be paid in cash, unless the share
adjustment factor increases by an amount sufficient to result in the delivery of at least one share.

You will not participate in any appreciation in the Underlyings. You should consider carefully whether the securities are suitable to
your investment goals. Any payment or delivery on the securities is subject to our ability to meet our obligations as they become
due. The numbers appearing in the tables and examples below have been rounded for ease of analysis.

T a ble 1 : Hypothetical Redemption Amounts

Pe rc e nt a ge Cha nge
from t he I nit ia l Le ve l t o t he Fina l
Re de m pt ion Am ount
T ot a l
Le ve l of t he Low e st Pe rform ing
(e x c luding c ont inge nt
Cont inge nt
U nde rlying
c oupons, if a ny)
Coupons
100%
$1,000
90%
$1,000
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80%
$1,000

70%
$1,000
60%
$1,000
50%
$1,000
40%
$1,000
30%
$1,000
20%
$1,000
(See Table 2
10%
$1,000
below)
0 %
$ 1 ,0 0 0
-10%
$1,000
-20%
$1,000
-30%
$1,000
-3 1 %
5 sha re s + $ 3 4 .5 0
-40%
5 shares + $30
-50%
5 shares + $25
-60%
5 shares + $20
-70%
5 shares + $15
-80%
5 shares + $10
-90%
5 shares + $5
-100%
$0

2


T a ble 2 : The expected total contingent coupons will depend on how many Coupon Barrier Events occur.

N um be r of Coupon Ba rrie r Eve nt s
T ot a l Cont inge nt Coupons
A Coupon Barrier Event does not occur on any Observation Date
$609
A Coupon Barrier Event occurs on 1 Observation Date
$558.25
A Coupon Barrier Event occurs on 2 Observation Dates
$507.50
A Coupon Barrier Event occurs on 3 Observation Dates
$456.75
A Coupon Barrier Event occurs on 4 Observation Dates
$406
A Coupon Barrier Event occurs on 5 Observation Dates
$355.25
A Coupon Barrier Event occurs on 6 Observation Dates
$304.50
A Coupon Barrier Event occurs on 7 Observation Dates
$253.75
A Coupon Barrier Event occurs on 8 Observation Dates
$203
A Coupon Barrier Event occurs on 9 Observation Dates
$152.25
A Coupon Barrier Event occurs on 10 Observation Dates
$101.50
A Coupon Barrier Event occurs on 11 Observation Dates
$50.75
A Coupon Barrier Event occurs on 12 Observation Dates
$0

The total payment or delivery on the securities will be equal to the Redemption Amount applicable to an investor plus the total
contingent coupons on the securities.

The following examples illustrate how the Redemption Amount (excluding contingent coupons) is calculated.

Ex a m ple 1 : A K noc k -I n Eve nt ha s oc c urre d be c a use t he Fina l Le ve l of a n U nde rlying is le ss t ha n it s K noc k -
I n Le ve l.

U nde rlying
Fina l Le ve l
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AAPL
75% of Initial Level
AMZN
85% of Initial Level
FB
40% of Initial Level
GOOGL
85% of Initial Level
NFLX
85% of Initial Level

Because the Final Level of FB is less than its Knock-In Level, a K noc k -I n Eve nt ha s oc c urre d. FB is also the Lowest
Performing Underlying. Therefore, the Redemption Amount will equal the Physical Delivery Amount, calculated as follows:


Physical Delivery Amount = $1,000/Initial Level of the Lowest Performing Underlying


= $1,000/$190


= 5 shares of the Lowest Performing Underlying (5.2632 rounded down)

Redemption Amount = Physical Delivery Amount + cash in lieu of fractional shares equal to approximately
0.2632 × $76


= 5 shares of the Lowest Performing Underlying + $20

In this example, at maturity an investor would receive a Redemption Amount equal to 5 shares of the Lowest Performing
Underlying and a cash payment of $20. The value of the Redemption Amount on the Valuation Date, which is the date on which
the Final Level is determined, is $400, calculated as follows:


Physical Delivery Amount = 5 shares of the Lowest Performing Underlying

Value of Redemption Amount = (5 shares of the Lowest Performing Underlying × $76) + $20


= $380 + $20


= $400

In these circumstances, the investor will be exposed to any depreciation in the level of the Lowest Performing Underlying from its
Initial Level to the time of delivery.

3


Ex a m ple 2 : A K noc k -I n Eve nt ha s not oc c urre d be c a use t he Fina l Le ve l of e a c h U nde rlying is e qua l t o or
gre a t e r t ha n it s K noc k -I n Le ve l; t he Fina l Le ve l of e a c h U nde rlying is gre a t e r t ha n it s I nit ia l Le ve l.

U nde rlying
Fina l Le ve l
AAPL
110% of Initial Level
AMZN
105% of Initial Level
FB
115% of Initial Level
GOOGL
120% of Initial Level
NFLX
130% of Initial Level

Because the Final Level of each Underlying is not less than its Knock-In Level, a Knock-In Event has not occurred. Even though
the Final Level of each Underlying is greater than its Initial Level, you will not participate in the appreciation of any Underlying.

Therefore, the Redemption Amount equals $ 1 ,0 0 0 .

Ex a m ple 3 : A K noc k -I n Eve nt ha s not oc c urre d be c a use t he Fina l Le ve l of e a c h U nde rlying is e qua l t o or
gre a t e r t ha n it s K noc k -I n Le ve l; t he Fina l Le ve l of e a c h U nde rlying is le ss t ha n it s I nit ia l Le ve l.

U nde rlying
Fina l Le ve l
AAPL
85% of Initial Level
AMZN
80% of Initial Level
FB
75% of Initial Level
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GOOGL
85% of Initial Level
NFLX
80% of Initial Level

Even though the Final Level of each Underlying is less than its Initial Level, since the Final Level of each Underlying is equal to or
greater than its Knock-In Level, a Knock-In Event has not occurred.

Therefore, the Redemption Amount equals $ 1 ,0 0 0 .

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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
Underlyings. These risks are explained in more detail in the "Risk Factors" section of any 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 -- If the securities are not
automatically redeemed prior to the Maturity Date, you may receive less at maturity than you originally invested in the
securities, or you may receive nothing, excluding contingent coupons, if any. If a Knock-In Event has occurred, you will
be fully exposed to any depreciation in the Lowest Performing Underlying. In this case, the Redemption Amount you
will 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 level of the Lowest Performing Underlying has decreased from its Initial Level to its Final Level. Any payment or
delivery on the securities is subject to our ability to meet our obligations as they become due.

·
REGARDLESS OF T H E AM OU N T OF AN Y PAY M EN T OR DELI V ERY Y OU RECEI V E ON T H E
SECU RI T I ES, Y OU R ACT U AL Y I ELD M AY BE DI FFEREN T I N REAL V ALU E T ERM S -- Inflation may
cause the real value of any payment or delivery you receive on the securities to be less at maturity than it is at the time
you invest. An investment in the securities also represents a forgone opportunity to invest in an alternative asset that
generates a higher real return. You should carefully consider whether an investment that may result in a return that is
lower than the return on alternative investments is appropriate for you.

·
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 CON T I N GEN T
COU PON S, I F AN Y -- The securities will not pay more than the principal amount plus contingent coupons, if any,
regardless of the performance of any Underlying. 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. Therefore, the maximum amount
payable with respect to the securities (excluding contingent coupons, if any) is $1,000 for each $1,000 principal amount
of the securities. This payment will not be increased to include reimbursement for any discounts or commissions and
hedging and other transaction costs, even upon an Automatic Redemption.

·
T H E SECU RI T I ES DO N OT PROV I DE FOR REGU LAR FI X ED I N T EREST PAY M EN T S -- Unlike
conventional debt securities, the securities do not provide for regular fixed interest payments. The number of contingent
coupons you receive over the term of the securities, if any, will depend on the performance of the Underlyings during
the term of the securities and the number of Coupon Barrier Events that occur. If a Coupon Barrier Event occurs on an
Observation Date, no contingent coupon will be paid with respect to that Observation Date. Accordingly, if a Coupon
Barrier Event occurs on every Observation Date, you will not receive any contingent coupons during the term of the
securities. Thus, the securities are not a suitable investment for investors who require regular fixed income payments,
since the number of contingent coupons is variable and may be zero.

In addition, if rates generally increase over the term of the securities, it is more likely that the contingent coupon, if any,
could be less than the yield one might receive based on market rates at that time. This would have the further effect of
decreasing the value of your securities both nominally in terms of below-market coupons and in real value terms.
Furthermore, it is possible that you will not receive some or all of the contingent coupons over the term of the
securities, and still lose your principal amount. Even if you do receive some or all of your principal amount at maturity,
you will not be compensated for the time value of money. These securities are not short-term investments, so you
should carefully consider these risks before investing.

·
CON T I N GEN T COU PON S, I F AN Y , ARE PAI D ON A PERI ODI C BASI S AN D ARE BASED SOLELY ON
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T H E CLOSI N G LEV ELS OF T H E U N DERLY I N GS ON T H E SPECI FI ED OBSERV AT I ON DAT ES-- Whether
the contingent coupon will be paid with respect to an Observation Date will be based on the closing levels of the
Underlyings on such date. As a result, you will not know whether you will receive the contingent coupon until near the
end of the relevant period. Moreover, because the contingent coupon is based solely on the closing levels of the
Underlyings on a specific Observation Date, if the closing level of an Underlying is less than its

5


Coupon Barrier Level on an Observation Date, you will not receive any contingent coupon with respect to such
Observation Date, even if the closing level of such Underlying was higher on other days during the relevant period.

·
M ORE FAV ORABLE T ERM S T O Y OU ARE GEN ERALLY ASSOCI AT ED WI T H AN U N DERLY I N G WI T H
GREAT ER EX PECT ED V OLAT I LI T Y AN D T H EREFORE CAN I N DI CAT E A GREAT ER RI SK OF LOSS --
"Volatility" refers to the frequency and magnitude of changes in the level of an Underlying. The greater the expected
volatility with respect to an Underlying on the Trade Date, the higher the expectation as of the Trade Date that the
level of such Underlying could be less than (i) its Coupon Barrier Level on any Observation Date or (ii) its Knock-In
Level on the Valuation Date, indicating a higher expected risk of loss on the securities. This greater expected risk will
generally be reflected in a higher contingent coupon than the yield payable on our conventional debt securities with a
similar maturity, or in more favorable terms (such as lower Coupon Barrier Levels or Knock-In Levels) than for similar
securities linked to the performance of an Underlying with a lower expected volatility as of the Trade Date. You should
therefore understand that a relatively higher contingent coupon may indicate an increased risk of loss. Further,
relatively lower Coupon Barrier Levels or Knock-In Levels may not necessarily indicate that you will receive a
contingent coupon on any Contingent Coupon Payment Date or that the securities have a greater likelihood of a return
of principal at maturity. The volatility of any Underlying 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. You
should be willing to accept the downside market risk of the Underlyings and the potential to lose a significant amount of
your principal at maturity.

·
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 -- 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 H E SECU RI T I ES ARE SU BJ ECT T O A POT EN T I AL AU T OM AT I C REDEM PT I ON , WH I CH EX POSES
Y OU T O REI N V EST M EN T RI SK -- If the securities are automatically redeemed prior to the Maturity Date, 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.

·
AN AU T OM AT I C REDEM PT I ON WOU LD LI M I T Y OU R OPPORT U N I T Y T O BE PAI D 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
Automatic Redemption. If a Trigger Event occurs, the securities will be automatically redeemed and you will receive a
cash payment equal to the principal amount of the securities you hold and the contingent coupon payable on the
immediately following Contingent Coupon Payment Date, and no further payments will be made with respect to the
securities. In this case, you will lose the opportunity to continue to be paid contingent coupons from the Automatic
Redemption Date to the scheduled Maturity Date.

·
T H E V ALU E OF T H E PH Y SI CAL DELI V ERY AM OU N T COU LD BE LESS ON T H E M AT U RI T Y DAT E
T H AN ON T H E V ALU AT I ON DAT E -- If a Knock-In Event has occurred, you will receive on the Maturity Date the
Physical Delivery Amount, which will consist of a whole number of shares of the Lowest Performing Underlying plus an
amount in cash corresponding to any fractional share, subject to our election to pay cash instead. The value of the
Physical Delivery Amount on the Valuation Date will be less than $1,000 per $1,000 principal amount of securities and
could fluctuate, possibly decreasing, in the period between the Valuation Date and the Maturity Date. We will make no
adjustments to the Physical Delivery Amount to account for any such fluctuation and you will bear the risk of any
decrease in the value of the Physical Delivery Amount between the Valuation Date and the Maturity Date. If the
Physical Delivery Amount is less than one share, the Redemption Amount will be paid in cash. Therefore, if the Initial
Level of the Lowest Performing Underlying is greater than $1,000, the Redemption Amount will be paid in cash, unless
the share adjustment factor increases by an amount sufficient to result in the delivery of at least one share.
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·
Y OU WI LL BE SU BJ ECT T O RI SK S RELAT I N G T O T H E RELAT I ON SH I P BET WEEN T H E
U N DERLY I N GS -- The securities are linked to the individual performance of each Underlying. As

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such, the securities will perform poorly if only one of the Underlyings performs poorly. For example, if one Underlying
appreciates from its Initial Level to its Final Level, but the Final Level of the Lowest Performing Underlying is less than
its Knock-In Level, you will be exposed to the depreciation of the Lowest Performing Underlying and will not benefit
from the performance of any other Underlying. Each additional Underlying to which the securities are linked increases
the risk that the securities will perform poorly. By investing in the securities, you assume the risk that (i) the Final
Level of at least one of the Underlyings will be below its Knock-In Level and (ii) a Coupon Barrier Event occurs with
respect to at least one of the Underlyings on one or more Observation Dates, regardless of the performance of any
other Underlying.

It is impossible to predict the relationship between the Underlyings. If the performances of the Underlyings exhibit no
relationship to each other, it is more likely that one of the Underlyings will cause the securities to perform poorly.
However, if the Reference Share Issuers' businesses tend to be related such that the performances of the Underlyings
are correlated, then there is less likelihood that only one Underlying will cause the securities to perform poorly.
Furthermore, to the extent that each Underlying represents a different market segment or market sector, the risk of one
Underlying performing poorly is greater. As a result, you are not only taking market risk on each Reference Share
Issuer and its businesses, you are also taking a risk relating to the relationship between each Reference Share Issuer
and Underlying to others.

·
N O AFFI LI AT I ON WI T H T H E REFEREN CE SH ARE I SSU ERS -- We are not affiliated with the Reference
Share Issuers. You should make your own investigation into the Underlyings and the Reference Share Issuers. In
connection with the offering of the securities, neither we nor our affiliates have participated in the preparation of any
publicly available documents or made any due diligence inquiry with respect to the Reference Share Issuers.

·
H EDGI N G AN D T RADI N G ACT I V I T Y -- We or any of our affiliates may carry out hedging activities related to the
securities, including in the Underlyings or instruments related to the Underlyings. We or our affiliates may also trade in
the Underlyings or instruments related to the Underlyings from time to time. Any of these hedging or trading activities
on or prior to the Trade Date and during the term of the securities could adversely affect our payment to you at
maturity.

·
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 I S 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) is less than the original Price to Public. The Price to Public of the securities
includes any 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. As such, the payout on the securities can be replicated using a combination of these components and
the value of these components, as determined by us using our pricing models, will impact the terms of the securities at
issuance. Our option valuation models are proprietary. Our pricing models 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.

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