Bond Swiss Credit (New York Branch) 1% ( US22550L2D25 ) in USD

Swiss Credit (New York Branch)

100 % ▲

Switzerland

US22550L2D25 ( in USD )

1% per year ( payment 2 times a year)

05/05/2023 - Bond has expired

Prospectus brochure of the bond Credit Suisse (New York Branch) US22550L2D25 in USD 1%, expired

250 000 USD

2 000 000 000 USD

22550L2D2

A+ ( Upper medium grade - Investment-grade )

A1 ( Upper medium grade - Investment-grade )

Credit Suisse (New York Branch) is a subsidiary of Credit Suisse Group AG, offering a range of financial services including investment banking, wealth management, and asset management to clients in the United States.

Credit Suisse (New York Branch) USD 2,000,000,000 1% Notes due May 5, 2023, ISIN US22550L2D25, CUSIP 22550L2D2, rated A+ by S&P and A1 by Moody's, matured on May 5, 2023, and was redeemed at 100% of par value.

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424B2 1 tm2020859-2_424b2.htm 424B2
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?Filed Pursuant to Rule 424(b)(2)
?Reg No. 333-218604-2 ?
PRICING SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED
JUNE 30, 2017 TO PROSPECTUS DATED JUNE 30, 2017
Credit Suisse AG,
acting through its New York Branch
$2,000,000,000 1.000% Senior Notes due 2023
Credit Suisse AG, a corporation organized under the laws of, and duly licensed as a bank in, Switzerland, which we refer to as the
"Bank," acting through its New York branch, which we refer to as the "Branch," is offering its 1.000% Senior Notes due 2023, which we
refer to as the "Notes." The Notes will be a separate tranche of the senior medium-term notes, as described in the accompanying
prospectus supplement and prospectus.
We will pay interest on the Notes on each May 5 and November 5. The first interest payment on the Notes will be made on
November 5, 2020. The Notes will bear interest at a fixed rate of 1.000% per annum. The Notes will mature on May 5, 2023.
We may redeem the Notes upon the occurrence of certain tax events at the principal amount of the Notes being redeemed plus
accrued interest. There is no sinking fund for the Notes.
The Notes will not be listed or displayed on any securities exchange or included in any interdealer market quotation system.
The Notes will constitute our unsecured obligations and will rank prior to all of our subordinated indebtedness and on an equal basis
with all of our other senior unsecured indebtedness as described herein.
Substantially concurrently with this offering, our parent company, Credit Suisse Group AG, a corporation organized under the laws
of Switzerland, is offering (the "Concurrent Offering") 2.193% Fixed Rate/Floating Rate Senior Callable Notes due 2026 in an aggregate
principal amount of $1,500,000,000 pursuant to an exemption from registration under the U.S. Securities Act of 1933, as amended (the
"Securities Act"). The Concurrent Offering is being made by means of a separate pricing supplement and not by means of this pricing
supplement. Nothing in this pricing supplement shall constitute an offer to sell or a solicitation of an offer to buy any notes being offered
in the Concurrent Offering. The completion of this offering and the Concurrent Offering are not conditioned on each other.
?
? ? ? ?
? ?? ?
? ?
?
?? ? ? ?
? ? ?
?
?
Underwriting
Discounts and
Proceeds to
?
(1)
(1)
? ?
Price to Public
? ?
Commissions
? ?
the Bank
?
?
?
Per Note
? ? ??
99.774 ?
% ? ? ??
0.250% ?? ? ??
99.524 ?%?
?
?
Total
? ? ?$1,995,480,000 ?? ?
?$4,988,700
?? ? ?$1,990,491,300 ? ?
?
?
?
(1) Plus accrued interest, if any, from June 5, 2020.
?
The Notes are not deposit liabilities and are not insured by the Federal Deposit Insurance Corporation or any other governmental
agency of the United States, Switzerland or any other jurisdiction. The Notes do not have the benefit of any agency or governmental
guarantee.
Credit Suisse Securities (USA) LLC, one of the underwriters, is an indirect subsidiary of the Bank. As a result of this conflict of
interest, the offering is being conducted in accordance with the applicable provisions of Rule 5121 of the Financial Industry Regulatory
Authority, Inc. ("FINRA"). See "Plan of Distribution (Conflicts of Interest)--Conflicts of Interest."
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these
securities or determined if this pricing supplement or the prospectus supplement or prospectus to which it relates is truthful or
complete. Any representation to the contrary is a criminal offense.
Delivery of the Notes in book-entry form will be made through The Depository Trust Company, which we refer to as "DTC," on or
about June 5, 2020. You may elect to hold interests in the Notes through either DTC (in the United States), or Clearstream Banking S.A.,
which we refer to as "Clearstream, Luxembourg," or Euroclear Bank, SA/NV, or its successor, as operator of the Euroclear System,
which we refer to as "Euroclear" (outside of the United States), if you are participants of such systems, or indirectly through
organizations that are participants in such systems. Interests held through Clearstream, Luxembourg and Euroclear will be recorded on
DTC's books as being held by the U.S. depositary for each of Clearstream, Luxembourg and Euroclear, which U.S. depositaries will in
turn hold interests on behalf of their participants' customers' securities accounts.
Credit Suisse
?
Co-Managers
?
Ramirez & Co., Inc.
??
R. Seelaus & Co., LLC
?
?
Academy Securities
??
CastleOak Securities, L.P.
?
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The date of this pricing supplement is June 2, 2020
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In this pricing supplement, unless otherwise specified or the context otherwise requires, references to "we,"
"us," "our" and the "Bank" are to Credit Suisse AG and references to the "Branch" are references to the Bank's
New York branch.
We are responsible for the information contained and incorporated by reference in this pricing
supplement and the accompanying prospectus supplement and prospectus. We have not authorized anyone
to provide you with information that is different and we take no responsibility for any other information that
others may give you. This pricing supplement and the accompanying prospectus supplement and prospectus
may only be used where it is legal to sell the Notes. You should assume that the information in this pricing
supplement and the accompanying prospectus supplement and prospectus is accurate as of the date of this
pricing supplement only.
The Bank, acting through the Branch, is offering the Notes globally for sale in those jurisdictions in the United
States, Europe, Asia and elsewhere where it is lawful to make such offers. The distribution of this pricing
supplement and the accompanying prospectus supplement and prospectus and the offering of the Notes in some
jurisdictions may be restricted by law. If you possess this pricing supplement and the accompanying prospectus
supplement and prospectus, you should find out about and observe these restrictions. This pricing supplement and
the accompanying prospectus supplement and prospectus are not an offer to sell the Notes and are not soliciting an
offer to buy the Notes in any jurisdiction where the offer or sale is not permitted or where the person making the
offer or sale is not qualified to do so or to any person to whom it is not permitted to make such offer or sale. We
refer you to the information under "Plan of Distribution (Conflicts of Interest)" in this pricing supplement and the
accompanying prospectus supplement.
Unless otherwise specified or the context otherwise requires, references in this pricing supplement to "Swiss
francs" or "CHF" are to the lawful currency of Switzerland and references to "dollars" or "$" are to the lawful
currency of the United States. The exchange rate between the Swiss franc and the dollar on June 1, 2020 was CHF
0.961 = $1.00.
The Bank's and Credit Suisse Group AG's consolidated financial statements and other consolidated financial
information, which are incorporated by reference into this pricing supplement and the accompanying prospectus
supplement and prospectus, have been prepared in accordance with accounting principles generally accepted in the
United States of America, which we refer to as "U.S. GAAP." The Bank's and Credit Suisse Group AG's
consolidated financial statements are stated in Swiss francs.

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USE OF PROCEEDS
The net proceeds from this offering will be approximately $1.990 billion after deducting underwriting
discounts and commissions and certain offering expenses. We intend to use the net proceeds for our general
corporate purposes, outside Switzerland, unless and to the extent use in Switzerland is permitted under the Swiss
taxation laws in force from time to time without payments in respect of the Notes becoming subject to withholding
or deduction for Swiss withholding tax as a consequence of such use of proceeds in Switzerland.

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DESCRIPTION OF THE NOTES
The following description of the terms of the Notes supplements the description of the general terms and
provisions of the debt securities set forth under the heading "Description of Notes" in the accompanying prospectus
supplement and under the heading "Description of Debt Securities" in the accompanying prospectus, to which
description you should refer. Such general terms and provisions as supplemented hereby apply to the Notes. If there
are any differences between this pricing supplement and the accompanying prospectus supplement or prospectus,
this pricing supplement will prevail.
General
The Notes will be issued under a senior indenture, dated as of March 29, 2007, as supplemented by a second
supplemental indenture, dated as of March 25, 2009, in each case between the Bank and The Bank of New York
Mellon (formerly known as The Bank of New York), as trustee. We refer to such senior indenture, as supplemented
by such second supplemental indenture, as the "indenture." The following summaries of certain provisions of the
indenture do not purport to be complete, and are subject to, and are qualified in their entirety by reference to, all the
provisions of the indenture, including the definitions in the indenture of certain terms.
We may, acting through the Branch and without notice to or the consent of the holders of the Notes, increase
the principal amount of the Notes on the same terms and conditions and with the same CUSIP number as the Notes
being offered hereby, as more fully described in "--Further Issues" below.
The Notes will constitute our unsecured obligations and will rank prior to all of our subordinated indebtedness
and on an equal basis with all of our other senior unsecured indebtedness.
We may redeem the Notes upon the occurrence of certain tax events at the principal amount of the Notes being
redeemed plus accrued interest, as more fully described under the heading "Description of Debt Securities--Tax
Redemption" in the accompanying prospectus. Except as otherwise described herein or therein, we cannot redeem
the Notes prior to maturity and the Notes are not callable by us or puttable by you. We may at any time purchase
the Notes at any price in the open market, in private transactions or otherwise. Such purchased Notes may, at our
discretion, be held, resold or surrendered to the trustee for cancellation. There is no sinking fund for the Notes.
The Notes will not be listed or displayed on any securities exchange or included in any interdealer market
quotation system.
"Business Day" means any day that is not a Saturday or Sunday and that is not a day on which banking
institutions are generally authorized or obligated by law, regulation or executive order to close in The City of New
York or any other place of payment with respect to the Notes.
The Notes are being issued in an aggregate principal amount of $2,000,000,000. The Notes will mature on
May 5, 2023 (the "Maturity Date"). Unless previously redeemed as provided herein, the Notes will mature at par.
The Notes will be issued in the form of one or more fully registered global securities in denominations of $250,000
and integral multiples of $1,000 in excess thereof.
Interest Payments on the Notes
Interest on the Notes will begin to accrue on June 5, 2020. We will pay interest on the Notes on May 5 and
November 5 of each year beginning on November 5, 2020. Each day on which interest on the Notes is payable is an
"Interest Payment Date."
If an Interest Payment Date (or the Maturity Date or any redemption date) for the Notes would fall on a day
that is not a Business Day, payment of interest or principal otherwise payable on such date shall not be made on
such date, but shall be made on the next succeeding Business Day with the same force and effect as if made on the
Interest Payment Date or on the Maturity Date or any redemption date, and no interest shall accrue for the period
from and after the Interest Payment Date or the Maturity Date or any redemption date to such next succeeding
Business Day.

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The Notes will bear interest at a fixed rate of 1.000% per annum. Interest on the Notes will be calculated on
the basis of a 360-day year comprised of twelve 30-day months.
Paying Arrangements. Each interest payment on the Notes shall be payable to holders of record of the Notes
as they appear on the securities register of the Bank at the close of business on the corresponding record date. The
"record date" for the Notes will be, for so long as the Notes are in the form of global certificates, three Business
Days prior to the relevant Interest Payment Date and, in the event that the Notes are not represented by one or more
global certificates, the fifteenth day (whether or not a Business Day) prior to the relevant Interest Payment Date.
Interest payable on the Maturity Date or upon redemption will be paid to the same persons to whom principal of the
Notes is payable.
Payment of Additional Amounts
All payments of principal and interest in respect of the Notes by the Bank will be made without withholding or
deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges of
whatever nature imposed or levied by or on behalf of Switzerland or the United States, any political subdivision
thereof or any authority therein or thereof having the power to tax, unless the withholding or deduction of such
taxes, duties, assessments or governmental charges is required by law. In that event, the Bank will pay such
additional amounts as may be necessary in order that the net amounts received by holders of the Notes after such
withholding or deduction shall equal the amounts that would have been receivable in respect of the Notes in the
absence of such withholding or deduction, subject to customary exceptions.
Further Issues
The Bank may from time to time, acting through the Branch and without notice to or the consent of the holders
of the Notes, create and issue further notes having the same terms and ranking pari passu with the Notes offered by
this pricing supplement in all respects (or having the same terms in all respects except for the payment of interest
accruing prior to the issue date of such further notes or except for the first payment of interest following the issue
date of such further notes or the initial interest accrual date thereof). Such further notes will be consolidated and
form a single issue with the Notes being offered by this pricing supplement and will, except as aforesaid, have the
same terms as to status, redemption or otherwise as the Notes being offered by this pricing supplement, and
payments on such further notes in liquidation will be made pro rata.

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UNDERWRITING
Under the terms and subject to the conditions contained in a distribution agreement dated May 7, 2007,
incorporated by reference in a terms agreement dated June 2, 2020 (collectively the "Distribution Agreement"), we
have agreed to sell to the underwriters named below, for whom Credit Suisse Securities (USA) LLC is acting as
representative, the principal amount of the Notes set forth opposite the underwriter's name:
Principal Amount
Underwriter
? ?
of the Notes
?
Credit Suisse Securities (USA) LLC
? ??$1,940,000,000??
Samuel A. Ramirez & Company, Inc.
? ??$
25,000,000??
R. Seelaus & Co., LLC
? ??$
20,000,000??
Academy Securities, Inc.
? ??$
10,000,000??
CastleOak Securities, L.P.
? ??$
5,000,000??
Total
? ??$2,000,000,000??
The Distribution Agreement provides that the underwriters are obligated to purchase all of the Notes if any are
purchased.
The underwriters propose to offer the Notes initially at the public offering price on the cover page of this
pricing supplement and to selling group members at that price less a selling concession of 0.150% per Note. The
underwriters and selling group members may allow a discount of 0.125% per Note on sales to other broker/dealers.
After the public offering, the underwriters may change the public offering price and concession and discount to
broker/dealers.
We estimate that our out-of-pocket expenses for this offering will be $365,000.
It is expected that delivery of the Notes will be made against payment therefor on or about the date specified
on the cover of this pricing supplement, which will be the third business day following the date of pricing of the
Notes (this settlement cycle being referred to as "T+3"). Under Rule 15c6-1 of the SEC under the U.S. Securities
Exchange Act of 1934, as amended (the "Exchange Act"), trades in the secondary market generally are required to
settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers
who wish to trade Notes prior to their date of delivery may be required, by virtue of the fact that the Notes initially
will settle in T+3, to specify an alternate settlement cycle at the time of any such trade to prevent a failed
settlement. Purchasers of Notes who wish to trade Notes prior to their date of delivery should consult their own
advisor.

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PLAN OF DISTRIBUTION (CONFLICTS OF INTEREST)
Conflicts of Interest
Credit Suisse Securities (USA) LLC, one of the underwriters, is an indirect subsidiary of the Bank, which is the
issuer of the Notes and will receive all of the net proceeds of the offering. As a result of this conflict of interest, the
offering is being conducted in accordance with the applicable provisions of FINRA Rule 5121. Credit Suisse
Securities (USA) LLC will not confirm sales to any accounts over which it exercises discretionary authority
without first receiving a written consent from the holders of those accounts.
In the ordinary course of business, certain of the underwriters and their affiliates have provided financial
advisory, investment banking and general financing and banking services for us and our affiliates for customary
fees.
None of our broker-dealer subsidiaries or affiliates, including Credit Suisse Securities (USA) LLC, has any
obligation to make a market in the Notes and may discontinue any market-making activities at any time without
notice, at its sole discretion.
We have agreed to indemnify the underwriters against liabilities under the Securities Act, or contribute to
payments that the underwriters may be required to make in that respect.
In connection with the offering, the underwriters may engage in stabilizing transactions, over-allotment
transactions, syndicate covering transactions, and penalty bids in accordance with Regulation M under the
Exchange Act:
· Stabilizing transactions permit bids to purchase the Notes so long as the stabilizing bids do not exceed a
specified maximum.
?
· Over-allotment involves sales by the underwriters of Notes in excess of the aggregate principal amount of
Notes the underwriters are obligated to purchase, which creates a syndicate short position.
?
· Syndicate covering transactions involve purchases of Notes in the open market after the distribution has
been completed in order to cover syndicate short positions.
?
· Penalty bids permit the representative to reclaim a selling concession from a syndicate member when the
Notes originally sold by the syndicate member are purchased in a stabilizing or syndicate covering
transaction to cover syndicate short positions.
?
These stabilizing transactions, syndicate covering transactions and penalty bids may have the effect of raising
or maintaining the market price of the Notes or preventing or retarding a decline in the market price of the Notes.
As a result, the price of the Notes may be higher than the price that might otherwise exist in the open market. These
transactions, if commenced, may be discontinued at any time.
Selling Restrictions
The following description of selling restrictions supplements or amends, as applicable, the description set forth
under the heading "Plan of Distribution (Conflicts of Interest)" in the accompanying prospectus supplement, to
which description you should refer. Such selling restrictions as supplemented hereby apply to the Notes. If there are
any differences between this pricing supplement and the accompanying prospectus supplement or prospectus, this
pricing supplement will prevail.
Notice to Prospective Investors in the European Economic Area or in the United Kingdom
The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold
or otherwise made available to any retail investor in the European Economic Area ("EEA") or in the United
Kingdom ("UK"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as
defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a customer within
the meaning of Directive 2016/97/EU (the "Insurance Distribution Directive"), where that customer would not
qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently no key
information document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for
offering or selling the Notes or otherwise making

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them available to retail investors in the EEA or in the UK has been prepared and therefore offering or selling the
Notes or otherwise making them available to any retail investor in the EEA or in the UK may be unlawful under the
PRIIPs Regulation.
Notice to prospective investors in Canada
Resale Restrictions
The distribution of the Notes in Canada will be made on a private placement basis exempt from the
requirement that we prepare and file a prospectus with the securities regulatory authorities in each province where
trades of Notes are made. Any resale of the Notes (or any securities issued in an exchange or a conversion of the
Notes in accordance with the terms of the Notes) in Canada must be made under applicable securities laws, which
may vary depending on the relevant jurisdiction, and which may require resales to be made under available
statutory exemptions or under a discretionary exemption granted by the applicable Canadian securities regulatory
authority. Purchasers are advised to seek legal advice prior to any resale of the Notes (or any securities issued in an
exchange or a conversion of the Notes in accordance with the terms of the Notes).
Representations of Canadian Purchasers
By purchasing Notes in Canada and accepting delivery of a purchase confirmation, a purchaser is representing
to us and the dealer from whom the purchase confirmation is received that:
· the purchaser is entitled under applicable provincial securities laws to purchase the Notes without the
benefit of a prospectus qualified under those securities laws as it is an "accredited investor" as defined
under applicable Canadian securities law including National Instrument 45-106--Prospectus Exemptions or
Section 73.3(1) of the Securities Act (Ontario), as applicable,
?
· the purchaser is a "permitted client" as defined in National Instrument 31-103--Registration Requirements,
Exemptions and Ongoing Registrant Obligations,
?
· where required by law, the purchaser is purchasing as principal and not as agent, and
?
· the purchaser has reviewed the text above under "Resale Restrictions."
?
Conflicts of Interest
Canadian purchasers are hereby notified that the Distributors will be relying on the exemption set out in
section 3A.3 or 3A.4, if applicable, of National Instrument 33-105--Underwriting Conflicts from having to provide
certain conflict of interest disclosure in this document.
Statutory Rights of Action
Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for
rescission or damages if this pricing supplement (including any amendment thereto) contains a misrepresentation,
provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed
by the securities legislation of the purchaser's province or territory. The purchaser of these securities in Canada
should refer to any applicable provisions of the securities legislation of the purchaser's province or territory for
particulars of these rights or consult with a legal advisor.
Enforcement of Legal Rights
All of our directors and officers as well as the experts named herein may be located outside of Canada and, as
a result, it may not be possible for Canadian purchasers to effect service of process within Canada upon us or those
persons. All or a substantial portion of our assets and the assets of those persons may be located outside of Canada
and, as a result, it may not be possible to satisfy a judgment against us or those persons in Canada or to enforce a
judgment obtained in Canadian courts against us or those persons outside of Canada.

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Taxation and Eligibility for Investment
Canadian purchasers of Notes should consult their own legal and tax advisors with respect to the tax
consequences of an investment in the Notes in their particular circumstances and about the eligibility of the Notes
for investment by the purchaser under relevant Canadian legislation.
Notice to prospective investors in Korea
The Notes have not been and will not be registered under the Financial Investment Services and Capital
Markets Act of Korea, and none of the Notes may be offered or sold, directly or indirectly, in Korea or to any
resident of Korea, or to any persons for reoffering or resale, directly or indirectly, in Korea or to, or for the account
or benefit of, any resident of Korea (as such term is defined in the Foreign Exchange Transaction Law of Korea and
rules and regulations promulgated thereunder), except as otherwise permitted under applicable laws and regulations.
Notice to prospective investors in Switzerland
The Notes may not be publicly offered, directly or indirectly, in Switzerland within the meaning of the Swiss
Financial Services Act of June 15, 2018 (the "FinSA") and will not be admitted to trading on a trading venue
(exchange or multilateral trading facility) in Switzerland. Neither this pricing supplement nor the accompanying
prospectus supplement or prospectus nor any other offering or marketing material relating to the Notes
(i) constitutes a prospectus as such term is understood pursuant to the FinSA or (ii) has been or will be filed with, or
approved by, a Swiss review body pursuant to article 52 of the FinSA. Neither this pricing supplement nor the
accompanying prospectus supplement or prospectus nor other offering or marketing material relating to the Notes
may be publicly distributed or otherwise made publicly available in Switzerland.

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TAXATION
The following disclosure supplements, and should be read together with, the section "Taxation--United States
Taxation" in the accompanying prospectus.
Book/Tax Conformity
U.S. holders that use an accrual method of accounting for tax purposes ("accrual method holders") generally
are required to include certain amounts in income no later than the time such amounts are reflected on certain
financial statements (the "book/tax conformity rule"). The application of the book/tax conformity rule thus may
require the accrual of income earlier than would be the case under the general tax rules described in the section
"Taxation--United States Taxation--U.S. Holder" in the accompanying prospectus. It is not entirely clear to what
types of income the book/tax conformity rule applies, or, in some cases, how the rule is to be applied if it is
applicable. However, proposed regulations generally would exclude, among other items, original issue discount and
market discount (in either case, whether or not de minimis) from the applicability of the book/tax conformity rule.
Although the proposed regulations generally will not be effective until taxable years beginning after the date on
which they are issued in final form, taxpayers generally are permitted to elect to rely on their provisions currently.
Accrual method holders should consult with their tax advisors regarding the potential applicability of the book/tax
conformity rule to their particular situation.
Specified Foreign Financial Assets
Individual U.S. holders that own specified foreign financial assets with an aggregate value in excess of
$50,000 on the last day of the taxable year or $75,000 at any time during the taxable year are generally required to
file an information statement on Form 8938 along with their tax returns with respect to such assets. Higher
reporting thresholds apply to certain individuals living abroad and to certain married individuals. The statute of
limitations for assessment of tax would be suspended, in whole or in part, for any individual U.S. holders who fail
to report the required information with respect to their holdings of specified foreign financial assets. For a
discussion of specified foreign financial assets, see the section "Taxation--United States Taxation--U.S. Holder--
Specified Foreign Financial Assets" in the accompanying prospectus.
Information Reporting and Backup Withholding
Effective January 1, 2018, the backup withholding rate has been lowered to 24%. For a discussion of backup
withholding, see the section "Taxation--United States Taxation--Information Reporting and Backup Withholding"
in the accompanying prospectus.
Foreign Account Tax Compliance Act ("FATCA")
On December 13, 2018, the IRS proposed regulations, upon which taxpayers can rely, that eliminate FATCA
withholding on gross proceeds (i.e., payments of principal). For a discussion of FATCA, see the section "Taxation
--United States Taxation--Foreign Account Tax Compliance Act" in the accompanying prospectus.

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