Obbligazione Swiss Credit 5.25% ( USH3698DDA93 ) in USD

Swiss Credit

5.75 USD ⇌

Svizzera

USH3698DDA93 ( in USD )

5.25% per anno ( pagato 2 volte l'anno)

perpetue

Prospetto opuscolo dell'obbligazione Credit Suisse USH3698DDA93 en USD 5.25%, scadenza perpetue

200 000 USD

1 500 000 000 USD

H3698DDA9

BB- ( Non-investment grade speculative )

N/A

11/08/2025 ( In 78 giorni )

Credit Suisse è stata una grande banca svizzera, fallita nel marzo 2023 e acquisita da UBS.

The Obbligazione issued by Swiss Credit ( Switzerland ) , in USD, with the ISIN code USH3698DDA93, pays a coupon of 5.25% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is perpetue
The Obbligazione issued by Swiss Credit ( Switzerland ) , in USD, with the ISIN code USH3698DDA93, was rated BB- ( Non-investment grade speculative ) by Standard & Poor's ( S&P ) credit rating agency.

USD 1,500,000,000
5.250% PERPETUAL TIER 1 CONTINGENT WRITE-DOWN CAPITAL NOTES (THE "NOTES")
FINAL TERM SHEET
AUGUST 4, 2020

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"),
or the securities laws of any other jurisdiction. The Notes may not be offered or sold in the United States or to U.S. persons (as
defined in Regulation S under the Securities Act) except in transactions exempt from, or not subject to, the registration
requirements of the Securities Act. Accordingly, the Notes are being offered only to (1) persons reasonably believed to be
"qualified institutional buyers" as defined in Rule 144A under the Securities Act and (2) outside the United States solely to non-
U.S. persons in compliance with Regulation S under the Securities Act.

This term sheet supplements the information under "Summary" and completes the pricing terms in the Issuer's preliminary
Information Memorandum dated August 3, 2020 (the "Information Memorandum").

Issuer:
Credit Suisse Group AG
Note Type:
Perpetual Tier 1 Contingent Write-down Capital Notes
Form at:
144A / Regulation S
Ex pected Issue Ratings(1):
S&P: BB- / Fitch: BB+
Minim um Denom ination:
USD200,000 x USD1,000
Trade Date:
August 4, 2020
Settlem ent Date:
August 11, 2020 (T+5)(2)
Maturity Date:
Perpetual
Principal Am ount:
USD 1,500,000,000
Reoffer Yield:
5.250%
Coupon:
Fixed rate at 5.250% from (and including) the Issue Date to (but excluding) the
First Reset Date; reset on the First Reset Date and every fifth anniversary
thereafter (each such date, a "Reset Date", and each period from (and including)
a Reset Date to (but excluding) the next succeeding Reset Date, a "Reset
Period") at a rate per annum equal to the Treasury Yield, which is based on the
five-year constant maturity treasury, as of the applicable Reset Determination Date
+ initial credit spread of 488.9bps; semi-annual coupons; discretionary; non-
cumulative; dividend stopper; subject to write-down, as set out in the Information
Memorandum.
See "Terms and Conditions of the Notes--Condition 6(a) "Interest--Rate of
Interest"" in the Information Memorandum for the definition of Treasury Yield.
First Reset Date:
August 11, 2027
Public Offering Price:
100.000%
Underwriting Fee:
1.500%
All-in Price:
98.500%
Net Proceeds:
USD 1,477,500,000
Interest Paym ent Dates:
August 11 and February 11 of each year, commencing on February 11, 2021
Reset Determ ination Date for
Two Business Days prior to the first day of the relevant Reset Period
each Reset Period:
Day Count:
30/360, unadjusted
Business Days:
New York and Zurich
Discretionary Interest
Payments of interest will be made at the sole discretion of the Issuer and will be
Paym ents:
subject to mandatory cancellation if the Issuer does not have sufficient
distributable profits, would not be in compliance with its minimum regulatory
capital adequacy requirements or the Swiss Financial Market Supervisory
Authority FINMA prohibits the Issuer from making such payment.

Optional Redem ption (Issuer
Subject to having obtained the prior approval of the Swiss Financial Market
Call):
Supervisory Authority FINMA if then required under Swiss banking laws
applicable to the Issuer from time to time, the Issuer may at its option redeem the
Notes, in whole but not in part, at any time during the six-month period from (and
including) the February 11 in each year in which a Reset Date falls to (and
including) such Reset Date, on giving not less than 10 nor more than 60 days'
notice, at a redemption price equal to 100% of the principal amount, together
with accrued interest to (but excluding) the date of redemption.
Tax Redem ption:
Subject to having obtained the prior approval of the Swiss Financial Market
Supervisory Authority FINMA if then required under Swiss banking laws
applicable to the Issuer from time to time, if a Tax Event occurs, and subject to
certain conditions, the Issuer may at its option redeem the Notes, in whole but not
in part, at any time on giving not less than 10 nor more than 60 days' notice, at a
redemption price equal to 100% of the principal amount, together with accrued
interest to (but excluding) the date of redemption.
See "Terms and Conditions of the Notes--Condition 18 "Definitions"" in the
Information Memorandum for the definition of Tax Event.
Capital Event (Regulatory)
Subject to having obtained the prior approval of the Swiss Financial Market
Redem ption:
Supervisory Authority FINMA if then required under Swiss banking laws
applicable to the Issuer from time to time, if a "Capital Event" occurs, wherein a
change in the National Regulations and/or BIS Regulations occurs on or after the
Issue Date having the effect that the entire principal amount of the Notes ceases
to be eligible to be both (i) treated as Additional Tier 1 Capital under BIS
Regulations and (ii) counted towards the Going Concern Requirement, the Issuer
may at its option redeem the Notes, in whole but not in part, at any time on giving
not less than 10 nor more than 60 days' notice, at a redemption price equal to
100% of the principal amount, together with accrued interest to (but excluding)
the date of redemption.
See "Terms and Conditions of the Notes--Condition 18 "Definitions"" in the
Information Memorandum for the definitions of National Regulations, Additional
Tier 1 Capital, BIS Regulations and Going Concern Requirement.
Status of the Notes:
The Notes will constitute direct, unsecured and subordinated obligations of the
Issuer and will rank pari passu and without any preference among themselves.
The rights and claims of Holders will be subordinated.
The Notes will rank (i) junior to all claims of Priority Creditors, (ii) pari passu with
Parity Obligations and (iii) senior to the rights and claims of all holders of Junior
Capital.
See "Terms and Conditions of the Notes--Condition 4(b) "Definitions"" in the
Information Memorandum for the definitions of Priority Creditors, Parity
Obligations and Junior Capital.
Write-down:
If a Contingency Event, or prior to a Statutory Loss Absorption Date (if any), a
Viability Event occurs, the full principal amount of the Notes will be mandatorily
and permanently written down. The Notes will not be convertible into shares of
the Issuer upon the occurrence of a Contingency Event or a Viability Event or at
the option of the Holders at any time.
See "Terms and Conditions of the Notes--Condition 7 "Write-down"" in the
Information Memorandum for the definitions of Contingency Event, Statutory Loss
Absorption Date and Viability Event.
CET1 Write-down Trigger:
7.00%, based on Credit Suisse Group AG consolidated CET1 ratio, which will
be calculated as described in the definition of CET1 Ratio in "Terms and
Conditions of the Notes--Condition 18 "Definitions"" in the Information
Memorandum.
Use of Proceeds:
The Issuer will use the net proceeds from the sale of the Notes for general
corporate purposes.
Listing:
SIX Swiss Exchange
Governing Law / Forum :
Swiss law / Zurich
Rule 144A ISIN:
US225401AR98
Rule 144A CUSIP:
225401AR9
Reg S ISIN:
USH3698DDA93
Reg S CUSIP:
H3698DDA9
Sole Book -Running Manager:
Credit Suisse Securities (USA) LLC
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Joint Lead Managers:
Banco Bilbao Vizcaya Argentaria, S.A.
Natixis Securities Americas LLC
UniCredit Bank AG
Santander Investment Securities Inc.
Scotia Capital (USA) Inc.
Wells Fargo Securities, LLC
Co-Managers:
ABN AMRO Securities (USA) LLC
CIBC World Markets Corp.
ING Financial Markets LLC
NatWest Markets Securities Inc.
Rabo Securities USA, Inc
SG Americas Securities, LLC
TD Securities (USA) LLC
Banco de Sabadell, S.A.
BMO Capital Markets Corp.
BNY Mellon Capital Markets, LLC
CaixaBank, S.A.
Capital One Securities, Inc.
Citigroup Global Markets Inc.
Citizens Capital Markets, Inc.
Danske Bank A/S
Deutsche Bank Securities Inc.
HSBC Securities (USA) Inc.
Landesbank Baden-Württemberg
Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH
Morgan Stanley & Co. LLC
Nordea Bank Abp
RBC Capital Markets, LLC
Standard Chartered Bank

(1) A securities rating is not a recommendation to buy, sell, or hold securities and may be subject to revision or withdrawal at any time.

(2) Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, 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+5, 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.

This communication is being distributed in the United States solely to persons reasonably believed to be "qualified institutional buyers", as
defined in Rule 144A under the Securities Act and outside the United States solely to non-U.S. persons as defined under Regulation S under
the Securities Act.

In accordance with article 109 of the Swiss Financial Services Ordinance, the final Information Memorandum will be prepared in compliance
with articles 652a and 1156 of the Swiss Code of Obligations, as such articles were in effect immediately prior to the entry into effect of the
Swiss Financial Services Act of 15 June 2018 (the "FinSA"), and the listing rules of the SIX Swiss Exchange in their version dated November 8,
2019 and in force as of January 1, 2020. Consequently, the final Information Memorandum will not be reviewed or approved by a Swiss review
body pursuant to article 52 of the FinSA.

Copies of the Information Memorandum (including the documents incorporated by reference therein) can be obtained in electronic or printed
form, free of charge, during normal business hours from (i) the registered office of the Issuer, or (ii) Credit Suisse AG at Uetlibergstrasse 231,
8048 Zurich, Switzerland, or by telephone (+41 44 333 31 60), fax (+41 44 333 57 79) or e-mail to [email protected].

The Notes are not intended to be offered, sold or otherwise made available and should not be offered, sold or otherwise made available to retail
clients in the United Kingdom or the European Economic Area, as defined in the rules set out in the Markets in Financial Instruments Directive
2014/65/EU (as amended, "MiFID II"). No key information document required by Regulation (EU) No. 1286/2014 has been prepared. UK FCA
CoCo restrictions apply. Prospective investors are referred to the section headed "Restrictions on marketing and sales to retail investors in the
UK and the EEA" on page i of the Information Memorandum for further information. A distributor subject to MiFID II is responsible for
undertaking its own target market assessment in respect of the Notes and determining appropriate distribution channels.This communication
does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to
make such offer or solicitation in such jurisdiction.

Certain of the Joint Lead Managers and Co-Managers are not U.S. registered broker-dealers, and will not effect any offers or sales of any
Notes in the United States unless it is through one or more U.S. registered broker-dealers as permitted by the regulations of the Financial
Industry Regulatory Authority, Inc.

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