Obligation Swiss Credit 7.45% ( US22547QKZ80 ) en USD

Société émettrice Swiss Credit
Prix sur le marché 100 %  ▼ 
Pays  Suisse
Code ISIN  US22547QKZ80 ( en USD )
Coupon 7.45% par an ( paiement semestriel )
Echéance 01/04/2024 - Obligation échue



Prospectus brochure de l'obligation Credit Suisse US22547QKZ80 en USD 7.45%, échue


Montant Minimal 1 000 USD
Montant de l'émission /
Cusip 22547QKZ8
Notation Standard & Poor's ( S&P ) N/A
Notation Moody's N/A
Description détaillée Credit Suisse était une grande banque suisse, active dans la gestion de fortune, l'investissement bancaire et les services financiers, avant sa prise de contrôle par UBS en mars 2023 suite à une crise de confiance.

L'Obligation émise par Swiss Credit ( Suisse ) , en USD, avec le code ISIN US22547QKZ80, paye un coupon de 7.45% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 01/04/2024







http://www.sec.gov/Archives/edgar/data/1053092/000095010314002252...
424B2 1 dp45203_424b2-u996.htm PRICING SUPPLEMENT NO. U996

Pricing Supplement No. U996
Filed Pursuant to Rule 424(b)(2)
To the Underlying Supplement dated July 29, 2013,
Registration Statement No. 333-180300-03
Product Supplement No. U-I dated March 23, 2012,
March 27, 2014
Prospectus Supplement dated March 23, 2012 and
Prospectus dated March 23, 2012


Financial $1,095,000
Products
7.45% per annum Contingent Coupon Callable Yield Notes due April 1, 2024
Linked to the Performance of the S&P 500® Index, the Russell 2000® Index and
the EURO STOXX 50® Index

General
·
The securities are designed for investors who are mildly bearish, neutral or mildly bullish on the Underlyings. Investors should be
willing to lose some or all of their investment if a Knock-In Event occurs. Any payment on the securities is subject to our ability to
pay our obligations as they become due.
·
Subject to Early Redemption, if a Coupon Barrier Event does not occur, contingent coupons will be paid quarterly in arrears at a
Contingent Coupon Rate of 7.45% per annum for the corresponding contingent coupon period. If a Coupon Barrier Event occurs on
any Observation Date, no contingent coupon will be paid for the corresponding contingent coupon period. Contingent coupons will
be calculated on a 30/360 basis from and including the Settlement Date to and excluding the earlier of the Early Redemption Date
and the Maturity Date, as applicable.
·
The Issuer may redeem the securities, in whole but not in part, on any Contingent Coupon Payment Date scheduled to occur on or
after April 1, 2015. No contingent coupons will accrue or be payable following an Early Redemption.
·
Senior unsecured obligations of Credit Suisse AG, acting through its London Branch, maturing April 1, 2024.
·
Minimum purchase of $1,000. Minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof.
·
The securities priced on March 27, 2014 (the "Trade Date") and are expected to settle on April 1, 2014 (the "Settlement Date").
Delivery of the securities in book-entry form only will be made through The Depository Trust Company.
Key Terms
Issuer:
Credit Suisse AG ("Credit Suisse"), acting through its London Branch
Underlyings:
Each Underlying is identified in the table below, together with its Bloomberg ticker symbol, Initial Level, Coupon
Barrier Level and Knock-In Level:

Coupon Barrier
Underlying
Ticker
Initial Level
Level
Knock-In Level

S&P 500® Index ("SPX")
SPX <Index>
1849.04
924.5200
924.5200

Russell 2000® Index ("RTY")
RTY <Index>
1151.44
575.7200
575.7200

EURO STOXX 50® Index ("SX5E") SX5E <Index>
3133.75
1566.8750
1566.8750
Contingent CouponSubject to Early Redemption, if a Coupon Barrier Event does not occur, the Contingent Coupon Rate will be 7.45%
Rate:
per annum for the corresponding contingent coupon period. If a Coupon Barrier Event occurs, no contingent coupon
will be paid for the corresponding contingent coupon period. Contingent coupons will be calculated on a 30/360
basis from and including the Settlement Date to and excluding the earlier of the Early Redemption Date and the
Maturity Date, as applicable.
Coupon Barrier
A Coupon Barrier Event will occur if on an Observation Date the closing level of any Underlying is less than its
Event:
Coupon Barrier Level.
Coupon Barrier
Level:
For each Underlying, as set forth in the table above.
Contingent CouponSubject to Early Redemption, unless a Coupon Barrier Event occurs, contingent coupons will be paid quarterly in
Payment
arrears on July 1, 2014, October 1, 2014, January 2, 2015, April 1, 2015, July 1, 2015, October 1, 2015, January 4,
Dates:
2016, April 1, 2016, July 1, 2016, October 3, 2016, January 3, 2017, April 3, 2017, July 3, 2017, October 2, 2017,
January 2, 2018, April 2, 2018, July 2, 2018, October 1, 2018, January 2, 2019, April 1, 2019, July 1, 2019, October
1, 2019, January 2, 2020, April 1, 2020, July 1, 2020, October 1, 2020, January 4, 2021, April 1, 2021, July 1, 2021,
October 1, 2021, January 3, 2022, April 1, 2022, July 1, 2022, October 3, 2022, January 3, 2023, April 3, 2023, July
3, 2023, October 2, 2023, January 2, 2024 and the Maturity Date, subject to the modified following business day
convention. No contingent coupons will accrue or be payable following an Early Redemption. Contingent coupons
will be payable to the holders of record at the close of business on the business day immediately preceding the
applicable Contingent Coupon Payment Date, provided that the contingent coupon payable on the Early
Redemption Date or Maturity Date, as applicable, will be payable to the person to whom the Early Redemption
Amount or the Redemption Amount, as applicable, is payable.
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Redemption
At maturity, the Redemption Amount you will be entitled to receive will depend on the individual performance of each
Amount:
Underlying and whether a Knock-In Event occurs. Subject to Early Redemption, the Redemption Amount will be
determined as follows:

· If a Knock-In Event occurs, the Redemption Amount will equal the principal amount of the securities you hold
multiplied by the sum of one plus the Underlying Return of the Lowest Performing Underlying. In this case, the
Redemption Amount will be equal to or less than $500 per $1,000 principal amount of securities. You
could lose your entire investment.

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

Any payment on the securities is subject to our ability to pay our obligations as they become due.
Investing in the securities involves a number of risks. See "Selected Risk Considerations" in this pricing supplement and
"Risk Factors" beginning on page PS-3 of the accompanying product supplement.
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, the product
supplement, the prospectus supplement and the prospectus. Any representation to the contrary is a criminal offense.

Price to Public(1)
Underwriting Discounts and Commissions(2)
Proceeds to Issuer
Per security
$1,000.00
$20.00
$980.00
Total
$1,095,000.00
$21,900.00
$1,073,100.00
(1) Certain fiduciary accounts may pay a purchase price of at least $980.00 per $1,000 principal amount of securities, and CSSU will
forgo any fees with respect to such sales.
(2) We or one of our affiliates will pay discounts and commissions of $20.00 per $1,000 principal amount of securities. For more detailed
information, please see "Supplemental Plan of Distribution (Conflicts of Interest)" on the last page of this pricing supplement.
The agent for this offering, Credit Suisse Securities (USA) LLC ("CSSU"), is our affiliate. For more information, see "Supplemental Plan
of Distribution (Conflicts of Interest)" on the last page of this pricing supplement.
Credit Suisse currently estimates the value of each $1,000 principal amount of the securities on the Trade Date is $930.00
(as determined by reference to our pricing models and the rate we are currently paying to borrow funds through issuance
of the securities (our "internal funding rate")). See "Selected Risk Considerations" in this pricing supplement.
The securities are not deposit liabilities and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other
governmental agency of the United States, Switzerland or any other jurisdiction.
CALCULATION OF REGISTRATION FEE
Title of Each Class of Securities Offered
Maximum Aggregate Offering Price
Amount of Registration
Fee
Notes
$1,095,000.00
$141.04
Credit Suisse

March 27, 2014
(continued on next page)



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(continued from previous page)
Early Redemption:
Prior to the Maturity Date, the Issuer may redeem the securities in whole, but not in part, on any Contingent
Coupon Payment Date scheduled to occur on or after April 1, 2015 upon notice to the trustee on or before the
immediately preceding Early Redemption Notice Date at 100% of the principal amount of the securities (the
"Early Redemption Amount"), together with the contingent coupon, if any, payable on that Contingent Coupon
Payment Date (the "Early Redemption Date").
Early Redemption
Notice of Early Redemption will be provided prior to the relevant Contingent Coupon Payment Date on or before
Notice Dates:
March 27, 2015, June 26, 2015, September 28, 2015, December 28, 2015, March 29, 2016, June 28, 2016,
September 28, 2016, December 28, 2016, March 29, 2017, June 28, 2017, September 27, 2017, December 27,
2017, March 27, 2018, June 27, 2018, September 26, 2018, December 21, 2018, March 27, 2019, June 26,
2019, September 26, 2019, December 23, 2019, March 27, 2020, June 26, 2020, September 28, 2020,
December 28, 2020, March 29, 2021, June 28, 2021, September 28, 2021, December 28, 2021, March 29, 2022,
June 28, 2022, September 28, 2022, December 28, 2022, March 29, 2023, June 28, 2023, September 27, 2023
or December 27, 2023, as applicable.
Knock-In Event:
A Knock-In Event will occur if the Final Level of any Underlying is equal to or less than its Knock-In Level.
Knock-In Level:
For each Underlying, as set forth in the table above.
Lowest Performing
Underlying:
The Underlying with the lowest Underlying Return.
Underlying Return:
For each Underlying, the Underlying Return will be calculated as follows:

Final Level - Initial Level , subject to a maximum of zero
Initial Level
Initial Level:
For each Underlying, as set forth in the table above.
Final Level:
For each Underlying, the closing level of such Underlying on the Valuation Date.
Observation Dates:
June 26, 2014, September 26, 2014, December 23, 2014, March 27, 2015, June 26, 2015, September 28, 2015,
December 28, 2015, March 29, 2016, June 28, 2016, September 28, 2016, December 28, 2016, March 29, 2017,
June 28, 2017, September 27, 2017, December 27, 2017, March 27, 2018, June 27, 2018, September 26, 2018,
December 21, 2018, March 27, 2019, June 26, 2019, September 26, 2019, December 23, 2019, March 27, 2020,
June 26, 2020, September 28, 2020, December 28, 2020, March 29, 2021, June 28, 2021, September 28, 2021,
December 28, 2021, March 29, 2022, June 28, 2022, September 28, 2022, December 28, 2022, March 29, 2023,
June 28, 2023, September 27, 2023, December 27, 2023 and the Valuation Date.
Valuation Date:
March 26, 2024
Maturity Date:
April 1, 2024
Listing:
The securities will not be listed on any securities exchange.
CUSIP:
22547QKZ8
The determination of the closing level for each Underlying on each Observation Date (other than the Valuation Date) is subject to
postponement if such date is not a trading day for such Underlying or as a result of a market disruption event in respect of such
Underlying, as described herein under "Market Disruption Events." The Valuation Date is subject to postponement in respect of each
Underlying if such date is not an underlying business day for such Underlying or as a result of a market disruption event in respect of
such Underlying, as described in the accompanying product supplement under "Description of the Securities--Market disruption
events." The Contingent Coupon Payment Dates (including the Maturity Date) are subject to postponement, each as described herein, if
such date is not a business day or if (a) the determination of the closing level for any Underlying on the corresponding Observation Date
(other than the Valuation Date) is postponed or (b) the Valuation Date is postponed, in each case because such date is not a trading
day or an underlying business day for any Underlying, as applicable, or as a result of a market disruption event in respect of any
Underlying.





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Additional Terms Specific to the Securities

You should read this pricing supplement together with the underlying supplement dated July 29, 2013, the product
supplement dated March 23, 2012, the prospectus supplement dated March 23, 2012 and the prospectus dated March 23,
2012, relating to our Medium-Term Notes of which these securities are a part. You may access these documents on the
SEC website at www.sec.gov as fol ows (or if such address has changed, by reviewing our filings for the relevant date on
the SEC website):


·
Underlying supplement dated July 29, 2013:


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


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

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


·
Prospectus supplement and Prospectus dated March 23, 2012:

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

Our Central Index Key, or CIK, on the SEC website is 1053092. As used in this pricing supplement, the "Company," "we,"
"us," or "our" refers to Credit Suisse.

This pricing supplement, together with the documents listed above, contains the terms of the securities and supersedes al
other prior or contemporaneous oral statements as wel 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. You should careful y consider, among other things, the matters set forth in "Risk
Factors" in the product supplement and "Selected Risk Considerations" in this pricing supplement, as the securities involve
risks not associated with conventional debt securities. You should consult your investment, legal, tax, accounting and other
advisors before deciding to invest in the securities.





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Hypothetical Redemption Amounts and Total Payments on the Securities

The tables and examples below il ustrate, for a $1,000 investment in the securities, hypothetical Redemption Amounts
payable at maturity for a hypothetical range of Underlying Returns of the Lowest Performing Underlying and, in the case of
Table 2, total contingent coupon payments over the term of the securities, which wil depend on the number of Coupon
Barrier Events that have occurred over the term of the securities. The tables and examples below reflect that if a Coupon
Barrier Event does not occur on an Observation Date, a contingent coupon wil be paid for the corresponding contingent
coupon period at a rate of 7.45% per annum and assume that (i) the securities are not redeemed prior to maturity, (i ) the
term of the securities is exactly 10 years, (i i) the Coupon Barrier Level for each Underlying is 50% of the Initial Level of
such Underlying and (iv) the Knock-In Level for each Underlying is 50% of the Initial Level of such Underlying. The examples
are intended to il ustrate hypothetical calculations of only the Redemption Amount and do not il ustrate the calculation or
payment of any individual contingent coupon payment.

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

TABLE 1: Hypothetical Redemption Amounts

Percentage Change
from the Initial Level
Underlying Return of
to the Final Level of the
the Lowest
Redemption Amount
Lowest Performing
Performing
(excluding contingent
Total Contingent
Underlying
Underlying
coupon payments, if any) Coupon Payments
100.00%
0.00%
$1,000.00
90.00%
0.00%
$1,000.00
80.00%
0.00%
$1,000.00
70.00%
0.00%
$1,000.00
60.00%
0.00%
$1,000.00
50.00%
0.00%
$1,000.00
40.00%
0.00%
$1,000.00
30.00%
0.00%
$1,000.00
20.00%
0.00%
$1,000.00
10.00%
0.00%
$1,000.00
0.00%
0.00%
$1,000.00
(See table below)
-10.00%
-10.00%
$1,000.00
-20.00%
-20.00%
$1,000.00
-30.00%
-30.00%
$1,000.00
-40.00%
-40.00%
$1,000.00
-49.99%
-49.99%
$1,000.00
-50.00%
-50.00%
$500.00
-60.00%
-60.00%
$400.00
-70.00%
-70.00%
$300.00
-80.00%
-80.00%
$200.00
-90.00%
-90.00%
$100.00
-100.00%
-100.00%
$0.00

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TABLE 2: The expected total contingent coupon payments wil depend on how many Coupon Barrier Events occur.

Number of Coupon Barrier Events
Total Contingent Coupon Payments
A Coupon Barrier Event does not occur
$745.00
A Coupon Barrier Event occurs on 1 Observation Date
$726.38
A Coupon Barrier Event occurs on 2 Observation Dates
$707.75
A Coupon Barrier Event occurs on 3 Observation Dates
$689.13
A Coupon Barrier Event occurs on 4 Observation Dates
$670.50
A Coupon Barrier Event occurs on 5 Observation Dates
$651.88
A Coupon Barrier Event occurs on 6 Observation Dates
$633.25
A Coupon Barrier Event occurs on 7 Observation Dates
$614.63
A Coupon Barrier Event occurs on 8 Observation Dates
$596.00
A Coupon Barrier Event occurs on 9 Observation Dates
$577.38
A Coupon Barrier Event occurs on 10 Observation Dates
$558.75
A Coupon Barrier Event occurs on 11 Observation Dates
$540.13
A Coupon Barrier Event occurs on 12 Observation Dates
$521.50
A Coupon Barrier Event occurs on 13 Observation Dates
$502.88
A Coupon Barrier Event occurs on 14 Observation Dates
$484.25
A Coupon Barrier Event occurs on 15 Observation Dates
$465.63
A Coupon Barrier Event occurs on 16 Observation Dates
$447.00
A Coupon Barrier Event occurs on 17 Observation Dates
$428.38
A Coupon Barrier Event occurs on 18 Observation Dates
$409.75
A Coupon Barrier Event occurs on 19 Observation Dates
$391.13
A Coupon Barrier Event occurs on 20 Observation Dates
$372.50
A Coupon Barrier Event occurs on 21 Observation Dates
$353.88
A Coupon Barrier Event occurs on 22 Observation Dates
$335.25
A Coupon Barrier Event occurs on 23 Observation Dates
$316.63
A Coupon Barrier Event occurs on 24 Observation Dates
$298.00
A Coupon Barrier Event occurs on 25 Observation Dates
$279.38
A Coupon Barrier Event occurs on 26 Observation Dates
$260.75
A Coupon Barrier Event occurs on 27 Observation Dates
$242.13
A Coupon Barrier Event occurs on 28 Observation Dates
$223.50
A Coupon Barrier Event occurs on 29 Observation Dates
$204.88
A Coupon Barrier Event occurs on 30 Observation Dates
$186.25
A Coupon Barrier Event occurs on 31 Observation Dates
$167.63
A Coupon Barrier Event occurs on 32 Observation Dates
$149.00
A Coupon Barrier Event occurs on 33 Observation Dates
$130.38
A Coupon Barrier Event occurs on 34 Observation Dates
$111.75
A Coupon Barrier Event occurs on 35 Observation Dates
$93.13
A Coupon Barrier Event occurs on 36 Observation Dates
$74.50
A Coupon Barrier Event occurs on 37 Observation Dates
$55.88
A Coupon Barrier Event occurs on 38 Observation Dates
$37.25
A Coupon Barrier Event occurs on 39 Observation Dates
$18.63
A Coupon Barrier Event occurs on 40 Observation Dates
$0.00

The total payment on the securities wil be equal to the Redemption Amount applicable to an investor plus the total
contingent coupon payments on the securities.
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The fol owing examples il ustrate how the Redemption Amount is calculated.

Example 1: A Knock-In Event occurs because the Final Level of an Underlying is less than its Knock-In Level.

Underlying
Final Level
SPX
110% of Initial Level
RTY
40% of Initial Level
SX5E
90% of Initial Level




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Since the Final Level of RTY is less than its Knock-In Level, a Knock-In Event occurs. RTY is also the Lowest Performing
Underlying.

Therefore, the Underlying Return of the Lowest Performing Underlying wil equal:

Final Level of RTY ­ Initial Level of RTY
Initial Level of RTY

= -0.60

The Redemption Amount = principal amount of the securities × (1 + Underlying Return of the Lowest Performing Underlying)

= $1,000 × (1 ­ 0.60) = $400

Example 2: A Knock-In Event does not occur because the Final Level of each Underlying is greater than its
Knock-In Level.

Underlying
Final Level
SPX
80% of Initial Level
RTY
90% of Initial Level
SX5E
95% of Initial Level

Since the Final Level of each Underlying is not less than its Knock-In Level, a Knock-In Event does not occur.

Therefore, the Redemption Amount equals $1,000.

Example 3: A Knock-In Event does not occur because the Final Level of each Underlying is greater than its
Knock-In Level.

Underlying
Final Level
SPX
110% of Initial Level
RTY
110% of Initial Level
SX5E
105% of Initial Level

Since the Final Level of each Underlying is not less than its Knock-In Level, a Knock-In Event does not occur.

Therefore, the Redemption Amount equals $1,000.



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Selected Risk Considerations

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 the accompanying product
supplement.


·
YOU MAY RECEIVE LESS THAN THE PRINCIPAL AMOUNT AT MATURITY -- You may receive less at
maturity than you original y invested in the securities, or you may receive nothing, excluding any accrued and
unpaid contingent coupons, if any. If the Final Level of any Underlying is equal to or less than its Knock-In
Level, you wil be ful y exposed to any depreciation in the Lowest Performing Underlying. In this case, the
Redemption Amount you wil be entitled to receive wil 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 wil occur, and in
the event that there is a Knock-In Event, by how much the Final Level of the Lowest Performing Underlying wil
decrease in comparison to its Initial Level. Any payment on the securities is subject to our ability to pay our
obligations as they become due.


·
THE SECURITIES WILL NOT PAY MORE THAN THE PRINCIPAL AMOUNT, PLUS ACCRUED AND UNPAID
CONTINGENT COUPON, IF ANY, AT MATURITY OR UPON EARLY REDEMPTION -- The securities wil not
pay more than the principal amount, plus accrued and unpaid contingent coupon, if any, at maturity or upon
early redemption. Even if the Final Level of each Underlying is greater than its respective Initial Level, you wil
not participate in the appreciation of any Underlying. Assuming the securities are held to maturity and the term
of the securities is exactly 10 years, the maximum amount payable with respect to the securities wil not
exceed $1,745 for each $1,000 principal amount of the securities.


·
THE SECURITIES ARE SUBJECT TO THE CREDIT RISK OF CREDIT SUISSE -- Although the return on the
securities wil be based on the performance of the Underlyings, the payment of any amount due on the
securities, including any applicable contingent coupon payments, if any, early redemption payment and payment
at maturity, is subject to the credit risk of Credit Suisse. Investors are dependent on our ability to pay al
amounts due on the securities and, therefore, investors are subject to our credit risk. In addition, any decline in
our credit ratings, any adverse changes in the market's view of our creditworthiness or any increase in our
credit spreads is likely to adversely affect the value of the securities prior to maturity.


·
IF A COUPON BARRIER EVENT OCCURS ON ANY OBSERVATION DATE, YOU WILL NOT RECEIVE ANY
CONTINGENT COUPON PAYMENT FOR THE CORRESPONDING CONTINGENT COUPON PERIOD -- If
a Coupon Barrier Event occurs on an Observation Date, you wil not receive any contingent coupon payment
for the corresponding contingent coupon period. For example, if a Coupon Barrier Event occurs on every
Observation Date, you wil not receive any contingent coupon payments during the term of the securities.


·
THE REDEMPTION AMOUNT PAYABLE AT MATURITY WILL BE LESS THAN THE PRINCIPAL AMOUNT
OF THE SECURITIES EVEN IF A KNOCK-IN EVENT OCCURS WITH RESPECT TO ONLY ONE
UNDERLYING -- Even if the Final Level of only one Underlying is equal to or less than its Knock-In Level, a
Knock-In Event wil have occurred. In this case, the Redemption Amount payable at maturity wil be less than
the principal amount of the securities.


·
THE SECURITIES ARE SUBJECT TO A POTENTIAL EARLY REDEMPTION, WHICH WOULD LIMIT YOUR
OPPORTUNITY TO ACCRUE CONTINGENT COUPONS OVER THE FULL TERM OF THE
SECURITIES --The securities are subject to a potential early redemption. Prior to maturity, the securities may
be redeemed on any Contingent Coupon Payment Date scheduled to occur on or after April 1, 2015, upon
notice to the trustee on or before the immediately preceding Early Redemption Notice Date. If the securities
are redeemed prior to the Maturity Date, you wil be entitled to receive the principal amount of your securities
and any accrued and unpaid contingent coupon payable, if any, on that Contingent Coupon Payment Date. In
this case, you wil lose the opportunity to continue to accrue and be paid contingent coupons from the date of
Early Redemption to the scheduled Maturity Date. If the securities are redeemed prior to the Maturity Date,
you may be unable to invest in other securities with a similar level of risk that yield as much contingent coupon
as the securities.
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