Obligation Swiss Credit 7.1% ( US22548QKQ72 ) en USD

Swiss Credit

100 % ▲

Suisse

US22548QKQ72 ( en USD )

7.1% par an ( paiement semestriel )

30/04/2024 - Obligation échue

Prospectus brochure de l'obligation Credit Suisse US22548QKQ72 en USD 7.1%, échue

1 000 USD

22548QKQ7

N/A

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 US22548QKQ72, paye un coupon de 7.1% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 30/04/2024

424B2 1 dp69810_424b2-u1764.htm FORM 424B2
Pric ing Supple m e nt N o. U 1 7 6 4
Filed Pursuant to Rule 424(b)(2)
To the Underlying Supplement dated May 4, 2015,
Registration Statement Nos. 333-202913 and 333-180300-03
Product Supplement No. I dated May 4, 2015,
October 26, 2016
Prospectus Supplement dated May 4, 2015 and
Prospectus dated May 4, 2015
$ 5 ,0 0 0 ,0 0 0
7 .1 0 % 7 .5 Y e a r Ca lla ble Da ily Ra nge Ac c rua l Se c urit ie s due April 3 0 , 2 0 2 4 Link e d
t o t he Pe rform a nc e of t he Russe ll 2 0 0 0 ® I nde x
Ge ne ra l
·
The securities do not guarantee any return of principal at maturity and do not provide for the regular payment of interest.
·
Subject to Early Redemption, the securities will provide Contingent Coupon payments, if any, that will vary depending on the
performance of the Underlying during the term of the securities. Contingent Coupon payments, if any, will be paid monthly in
arrears at a rate equal to (i) the Applicable Rate of 7.10% per annum multiplied by (ii) the quotient of (a) the number of Accrual
Days in the applicable Observation Period divided by (b) the number of Non-Disrupted Days in such Observation 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.
·
We may redeem the securities, in whole but not in part, on any Contingent Coupon Payment Date scheduled to occur on or
after October 31, 2017 but prior to the Maturity Date. No Contingent Coupon will accrue or be payable following an Early
Redemption.
·
If the Final Level is less than the Initial Level by more than the Buffer Amount, investors will lose 1% of their principal for every
1% decline beyond the Buffer Amount. Y ou c ould lose up t o $ 8 0 0 pe r $ 1 ,0 0 0 princ ipa l a m ount .
·
Senior unsecured obligations of Credit Suisse maturing April 30, 2024. Any payment on the securities is subject to our ability to
pay 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 securities priced on October 26, 2016 (the "Trade Date") and are expected to settle on October 31, 2016 (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" in t his pric ing
supple m e nt a nd "Risk Fa c t ors" be ginning on pa ge PS-3 of t he 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 the accompanying underlying supplement,
the 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 .0 0
$ 4 0 .0 0
$ 9 6 0 .0 0
T ot a l
$ 5 ,0 0 0 ,0 0 0 .0 0
$ 2 0 0 ,0 0 0 .0 0
$ 4 ,8 0 0 ,0 0 0 .0 0
(1) Certain fiduciary accounts may pay a purchase price of at least $960.00 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 $40.00 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.
Cre dit Suisse c urre nt ly e st im a t e s t he va lue of e a c h $ 1 ,0 0 0 princ ipa l a m ount of t he se c urit ie s on t he T ra de
Da t e is $ 9 4 1 .7 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 .
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
October 26, 2016

K e y T e rm s

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Issuer:
Credit Suisse AG ("Credit Suisse"), acting through its London branch
Underlying:
The securities are linked to the performance of the Russell 2000® Index. For more information on the Underlying,
see "The Reference Indices--The Russell 2000® Index" in the accompanying underlying supplement. The
Underlying is identified in the table below, together with its Bloomberg ticker symbol, Initial Level and Accrual
Barrier:

U nde rlying
T ic k e r
I nit ia l Le ve l
Ac c rua l Ba rrie r

Russe ll 2 0 0 0 ® I nde x
RT Y <I nde x >
1 2 0 4 .7 4 9
9 6 3 .7 9 9 2
Contingent
Subject to Early Redemption, for each $1,000 principal amount of securities you hold, you will be entitled to
Coupon:
receive a monthly Contingent Coupon, if any, for each Observation Period on the immediately following

Contingent Coupon Payment Date, calculated as follows:

$1,000 × [Applicable Rate × (n / N)],

where,
n is the number of Accrual Days during such Observation Period; and
N is the total number of Non-Disrupted Days during such Observation Period.
I f on e a c h N on -Disrupt e d Da y during a n Obse rva t ion Pe riod t he c losing le ve l of t he
U nde rlying is le ss t ha n t he Ac c rua l Ba rrie r, t he n t he Cont inge nt Coupon w ill be ze ro, a nd

you w ill not re c e ive a ny Cont inge nt Coupon pa ym e nt on t he c orre sponding Cont inge nt
Coupon Pa ym e nt Da t e . I f on a ny N on -Disrupt e d Da y during a n Obse rva t ion Pe riod, t he
c losing le ve l of t he U nde rlying is le ss t ha n t he Ac c rua l Ba rrie r, t he Cont inge nt Coupon for
t ha t Obse rva t ion Pe riod, if a ny, w ill be le ss, a nd possibly signific a nt ly le ss, t ha n t he
m a x im um possible a m ount of a ny m ont hly Cont inge nt Coupon.
Applicable Rate:
7.10% per annum. 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.
Contingent
Subject to Early Redemption, Contingent Coupons, if any, will be paid in arrears on November 30, 2016,
Coupon Payment December 30, 2016, January 31, 2017, February 28, 2017, March 31, 2017, April 28, 2017, May 31, 2017, June
Dates:
30, 2017, July 31, 2017, August 31, 2017, September 29, 2017, October 31, 2017, November 30, 2017,
December 29, 2017, January 31, 2018, February 28, 2018, March 30, 2018, April 30, 2018, May 31, 2018, June
29, 2018, July 31, 2018, August 31, 2018, September 28, 2018, October 31, 2018, November 30, 2018,
December 31, 2018, January 31, 2019, February 28, 2019, March 29, 2019, April 30, 2019, May 31, 2019, June
28, 2019, July 31, 2019, August 30, 2019, September 30, 2019, October 31, 2019, November 29, 2019,
December 31, 2019, January 31, 2020, February 28, 2020, March 31, 2020, April 30, 2020, May 29, 2020, June
30, 2020, July 31, 2020, August 31, 2020, September 30, 2020, October 30, 2020, November 30, 2020,
December 31, 2020, January 29, 2021, February 26, 2021, March 31, 2021, April 30, 2021, May 28, 2021, June
30, 2021, July 30, 2021, August 31, 2021, September 30, 2021, October 29, 2021, November 30, 2021,
December 31, 2021, January 31, 2022, February 28, 2022, March 31, 2022, April 29, 2022, May 31, 2022, June
30, 2022, July 29, 2022, August 31, 2022, September 30, 2022, October 31, 2022, November 30, 2022,
December 30, 2022, January 31, 2023, February 28, 2023, March 31, 2023, April 28, 2023, May 31, 2023, June
30, 2023, July 31, 2023, August 31, 2023, September 29, 2023, October 31, 2023, November 30, 2023,
December 29, 2023, January 31, 2024, February 29, 2024, March 29, 2024 and the Maturity Date subject to
postponement as set forth in the accompanying product supplement under "Description of the Securities--
Postponement of calculation dates." 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 in respect of 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 Coupon will accrue or be payable following an Early Redemption.
Contingent Coupons, if any, 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 the Maturity Date, as applicable, will be payable to the person to
whom the Early Redemption Amount or the Redemption Amount, as applicable, is payable.
1
Accrual Day:
A Non-Disrupted Day on which the closing level of the Underlying is equal to or greater than the Accrual Barrier.
Non-Disrupted
A trading day on which a market disruption event does not occur (provided that any Observation Date for which
Day:
the closing level for the Underlying has been determined pursuant to provisions set forth under "Description of
the Securities -- Market disruption events -- For an equity-based reference index" in the accompanying product
supplement shall also be deemed a Non-Disrupted Day).
Accrual Barrier:
As set forth in the table above.
Redemption
Subject to Early Redemption, at maturity you will be entitled to receive a Redemption Amount in cash that will
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Amount:
equal the principal amount of the securities you hold multiplied by the sum of one plus the Underlying Return,
calculated as set forth below. Any payment on the securities is subject to our ability to pay our obligations as
they become due.
Underlying
· If the Final Level is (i) equal to or greater than the Initial Level or (ii) less than the Initial Level by not more
Return:
than the Buffer Amount, the Underlying Return will equal zero.

· If the Final Level is less than the Initial Level by more than the Buffer Amount, the Underlying Return will be
calculated as follows:

Final Level Initial Level
+ Buffer Amount

Initial Level

I f t he Fina l Le ve l is le ss t ha n t he I nit ia l Le ve l by m ore t ha n t he Buffe r Am ount , t he
U nde rlying Re t urn w ill be ne ga t ive a nd you w ill re c e ive le ss t ha n t he princ ipa l a m ount of
your se c urit ie s a t m a t urit y. Y ou c ould lose up t o $ 8 0 0 pe r $ 1 ,0 0 0 princ ipa l a m ount .
Early
We may redeem the securities in whole, but not in part, on any Contingent Coupon Payment Date scheduled to
Redemption:
occur on or after October 31, 2017 but prior to the Maturity Date, upon notice to the trustee on or before the
immediately preceding Observation 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").
Buffer Amount:
20%
Initial Level:
As set forth in the table above.

Final Level:
The closing level of the Underlying on the Valuation Date.

Observation
There are 90 monthly Observation Periods. The first Observation Period will be from but excluding the Trade
Periods:
Date to and including the first Observation Date. Each subsequent Observation Period will be from but

excluding an Observation Date to and including the next following Observation Date.
Observation
November 25, 2016, December 27, 2016, January 26, 2017, February 23, 2017, March 28, 2017, April 25,
Dates:
2017, May 25, 2017, June 27, 2017, July 26, 2017, August 28, 2017, September 26, 2017, October 26, 2017,
November 27, 2017, December 26, 2017, January 26, 2018, February 23, 2018, March 27, 2018, April 25,
2018, May 25, 2018, June 26, 2018, July 26, 2018, August 28, 2018, September 25, 2018, October 26, 2018,
November 27, 2018, December 26, 2018, January 28, 2019, February 25, 2019, March 26, 2019, April 25,
2019, May 28, 2019, June 25, 2019, July 26, 2019, August 27, 2019, September 25, 2019, October 28, 2019,
November 25, 2019, December 26, 2019, January 28, 2020, February 25, 2020, March 26, 2020, April 27,
2020, May 26, 2020, June 25, 2020, July 28, 2020, August 26, 2020, September 25, 2020, October 27, 2020,
November 24, 2020, December 28, 2020, January 26, 2021, February 23, 2021, March 26, 2021, April 27,

2021, May 25, 2021, June 25, 2021, July 27, 2021, August 26, 2021, September 27, 2021, October 26, 2021,
November 24, 2021, December 28, 2021, January 26, 2022, February 23, 2022, March 28, 2022, April 26,
2022, May 25, 2022, June 27, 2022, July 26, 2022, August 26, 2022, September 27, 2022, October 26, 2022,
November 25, 2022, December 27, 2022, January 26, 2023, February 23, 2023, March 28, 2023, April 25,
2023, May 25, 2023, June 27, 2023, July 26, 2023, August 28, 2023, September 26, 2023, October 26, 2023,
November 27, 2023, December 26, 2023, January 26, 2024, February 26, 2024, March 26, 2024 and the
Valuation Date, subject to postponement as set forth in the accompanying product supplement under
"Description of the Securities--Postponement of calculation dates."
Valuation Date:
April 25, 2024, subject to postponement as set forth in the accompanying product supplement under

"Description of the Securities--Postponement of calculation dates."
2
Maturity Date:
April 30, 2024, subject to postponement as set forth in the accompanying product supplement under "Description
of the Securities--Postponement of calculation dates."
CUSIP:
22548QKQ7
3
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 underlying supplement dated May 4, 2015, the product supplement
dated May 4, 2015, the prospectus supplement dated May 4, 2015 and the prospectus dated May 4, 2015, relating to our Medium-
Term Notes of which these securities are a part. You may access these documents on the SEC website at www.sec.gov as follows
(or if such address has changed, by reviewing our filings for the relevant date on the SEC website):

·
Underlying supplement dated May 4, 2015:

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http://www.sec.gov/Archives/edgar/data/1053092/000095010315003505/dp55844_424b2-underlying.htm

·
Product supplement No. I dated May 4, 2015:

http://www.sec.gov/Archives/edgar/data/1053092/000095010315003534/dp55815_424b2-psno1.htm

·
Prospectus supplement and Prospectus dated May 4, 2015:

http://www.sec.gov/Archives/edgar/data/1053092/000104746915004333/a2224570z424b2.htm

In the event the terms of the securities described in this pricing supplement differ from, or are inconsistent with, the terms
described in the underlying supplement, product supplement, 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 "Risk Factors" in the product supplement and "Selected Risk Considerations" in this pricing
supplement, "Foreign Currency Risks" in the accompanying prospectus, and any risk factors we describe in the combined Annual
Report on Form 20-F of Credit Suisse Group AG and us incorporated by reference therein, and any additional risk factors we
describe in future filings we make with the SEC under the Securities Exchange Act of 1934, as amended, as the securities involve
risks not associated with conventional debt securities. You should consult your investment, legal, tax, accounting and other
advisors before deciding to invest in the securities.

4
H ypot he t ic a l Re de m pt ion Am ount s a t M a t urit y a nd Cont inge nt Coupon Pa ym e nt s on t he Se c urit ie s

Table 1 and the examples below illustrate hypothetical Redemption Amounts payable at maturity on a $1,000 investment in the
securities for a range of hypothetical examples assuming that the securities are not redeemed prior to maturity and the Buffer
Amount is 20%. 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, if any. The Redemption Amounts set forth below are for
illustrative purposes only. The actual Redemption Amount applicable to a purchaser of the securities will be based on the Final
Level. You should consider carefully whether the securities are suited 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.

T ABLE 1 : Hypothetical Redemption Amounts Payable at Maturity.

Pe rc e nt a ge Cha nge
Re de m pt ion
from I nit ia l Le ve l
Am ount pe r $ 1 ,0 0 0
t o Fina l Le ve l

U nde rlying Re t urn

Princ ipa l Am ount
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 .0 0 %

0 .0 0 %

$ 1 ,0 0 0 .0 0
-10.00%

0.00%

$1,000.00
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-2 0 .0 0 %

0 .0 0 %

$ 1 ,0 0 0 .0 0
-30.00%

-10.00%

$900.00
-40.00%

-20.00%

$800.00
-50.00%

-30.00%

$700.00
-60.00%

-40.00%

$600.00
-70.00%

-50.00%

$500.00
-80.00%

-60.00%

$400.00
-90.00%

-70.00%

$300.00
-100.00%

-80.00%

$200.00

The following examples illustrate how the Redemption Amount is calculated.

Ex a m ple 1 : T he Fina l Le ve l re pre se nt s a n inc re a se of 5 0 % from t he I nit ia l Le ve l. Because the Final Level is equal
to or greater than the Initial Level, the Redemption Amount payable at maturity is equal to $1,000 per $1,000 principal amount of
securities.

Ex a m ple 2 : T he Fina l Le ve l re pre se nt s a de c re a se of 1 0 % from t he I nit ia l Le ve l. Because the Final Level is less
than the Initial Level by not more than the Buffer Amount of 20%, the Redemption Amount payable at maturity is equal to $1,000
per $1,000 principal amount of securities.

Ex a m ple 3 : T he Fina l Le ve l re pre se nt s a de c re a se of 5 0 % from t he I nit ia l Le ve l. Because the Final Level is less
than the Initial Level by more than the Buffer Amount of 20%, the Redemption Amount payable at maturity is calculated as follows:

Underlying Return
= [(Final Level - Initial Level) / Initial Level] + Buffer Amount

= -50% + 20%

= -30%
Redemption Amount
= $1,000 × (1 + Underlying Return)

= $1,000 × (1 - 0.30)

= $700

5
Table 2 below illustrates hypothetical Contingent Coupon payments on a $1,000 investment in the securities for a single
hypothetical Observation Period. Table 2 below assumes that the Applicable Rate is 7.10% per annum and the hypothetical
Observation Period has 22 Non-Disrupted Days. The Contingent Coupon payments set forth below are provided for illustration
purposes only. The actual Contingent Coupon payments applicable to a purchaser of the securities will depend on the Applicable
Rate and on the number of Non-Disrupted Days and Accrual Days during each Observation Period. Any payment on the securities
is subject to our ability to pay our obligations as they become due. The numbers appearing in the table below have been rounded
for ease of analysis.

T ABLE 2 : Hypothetical Contingent Coupon Payment for a Single Hypothetical Observation Period.

M ont hly Cont inge nt Coupon
Cont inge nt Coupon Ra t e Pe r
Pa ym e nt Pe r $ 1 ,0 0 0 Princ ipa l
N um be r of Ac c rua l Da ys
Annum *
Am ount of Se c urit ie s
22
7.10%
$5.92
18
5.81%
$4.84
14
4.52%
$3.77
10
3.23%
$2.69
6
1.94%
$1.61
2
0.65%
$0.54
0
0.00%
$0.00

*Calculated as:
[Applicable Rate × (n / N)]
where,
n is the number of Accrual Days during such Observation Period; and
N is the total number of Non-Disrupted Days during such Observation Period.

6
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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
Underlying. These risks are explained in more detail in the "Risk Factors" section of the accompanying product supplement.

·
Y OU R I N V EST M EN T I N T H E SECU RI T I ES M AY RESU LT I N A LOSS -- You may receive less at maturity
than you originally invested in the securities, excluding any accrued or unpaid Contingent Coupon payments. If the
Final Level is less than the Initial Level by more than the Buffer Amount of 20%, you will lose 1% of your principal for
each 1% decline in the Final Level as compared to the Initial Level beyond the Buffer Amount. You could lose up to
$800 per $1,000 principal amount of securities. Any payment on the securities is subject to our ability to pay our
obligations as they become due.

Furthermore, regardless of the amount of any payment you receive on the securities, you may nevertheless suffer a
loss on your investment in the securities in real value terms. This is because inflation may cause the real value of any
payment you receive on the securities to be less at maturity than it is at the time you invest, and because an
investment in the securities represents a forgone opportunity to invest in an alternative asset that does generate a
positive real return. You should carefully consider whether an investment that may not provide for any return on your
investment, or may provide 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 T H E ACCRU ED
AN D U N PAI D CON T I N GEN T COU PON , I F AN Y , AT M AT U RI T Y OR U PON EARLY REDEM PT I ON -- The
securities will not pay more than the principal amount, plus the accrued and unpaid Contingent Coupon, if any, at
maturity or upon early redemption, regardless of the performance of the Underlying. Even if the Final Level is greater
than the Initial Level, you will not participate in the appreciation of the Underlying. Assuming the term of the securities
is exactly 7.5 years, the maximum amount payable with respect to the securities is $1,532.50 for each $1,000 principal
amount of the securities.

·
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 amount of
Contingent Coupon payments you receive over the term of the securities, if any, will depend on the performance of the
Underlying during the term of the securities. The annual rate for any monthly Contingent Coupon depends on the
number of Non-Disrupted Days during the relevant Observation Period on which the closing level of the Underlying is
equal to or greater than the Accrual Barrier. If on any Non-Disrupted Days during an Observation Period the closing
level of the Underlying is less than the Accrual Barrier, the Contingent Coupon for that Observation Period, if any, will
be less, and possibly significantly less, than the maximum possible amount of any monthly Contingent Coupon. For
example, if on each Non-Disrupted Day during an Observation Period the closing level of the Underlying is less than
the Accrual Barrier, then the Contingent Coupon will be zero, and you will not receive any Contingent Coupon payment
on the corresponding Contingent Coupon Payment Date. There can be no assurance that you will receive a Contingent
Coupon payment on any Contingent Coupon Payment Date or as to the rate per annum on any Contingent Coupon
payments you do receive. The securities are not a suitable investment for investors who require regular fixed income
payments, since the Contingent Coupon payments are variable and may be zero.

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 coupon payments and in real value
terms. In addition, because the amount of Contingent Coupons, if any, depends on the performance of the Underlying
during the term of the securities, it is possible that you will not be paid any Contingent Coupons (or you will be paid a
below-market coupon relative to our conventional debt securities with a similar term) for the full term of the securities,
and still lose your principal investment. 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

7
securities are not short-term investments, so you should carefully consider these risks before investing.

·
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 the Underlying. The greater the expected
volatility with respect to the Underlying on the Trade Date, the higher the expectation as of the Trade Date that the
level of the Underlying could be less than (i) the Accrual Barrier on any Non-Disrupted Day during an Observation
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Period or (ii) the Initial Level by more than the Buffer Amount 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 Applicable Rate than the
yield payable on our conventional debt securities with a similar maturity, or in more favorable terms (such as a lower
Accrual Barrier) 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 Applicable Rate may indicate an increased
risk of loss. Further, a relatively lower Accrual Barrier 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 the Underlying can change significantly over the term of the securities. The level of the
Underlying 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 Underlying and the potential to lose a significant amount of your
principal at maturity.

·
AN Y CON T I N GEN T COU PON PAY M EN T FOR AN Y OBSERV AT I ON PERI OD WI LL DEPEN D ON T H E
CLOSI N G LEV EL OF T H E U N DERLY I N G DU RI N G T H E OBSERV AT I ON PERI OD -- The Contingent
Coupon payment for an Observation Period will be reduced for every Non-Disrupted Day on which the closing level of
the Underlying is not equal to or greater than the Accrual Barrier, and if the closing level of Underlying is not equal to
or greater than the Accrual Barrier for the entirety of any such Observation Period, you will not receive any Contingent
Coupon payment for that Observation Period. As a result, the return on the securities (the effective yield to maturity)
may be less than you could have earned on ordinary interest-bearing debt securities with similar maturities, including
other debt securities of ours.

·
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 EARLY REDEM PT I ON , WH I CH 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 early redemption on any Contingent Coupon Payment Date
scheduled to occur on or after October 31, 2017, upon notice to the trustee on or before the immediately preceding
Observation Date. Market events could affect our decision to redeem the securities. For example, it is more likely that
Credit Suisse will redeem the securities prior to the Maturity Date at a time when Credit Suisse believes it will be likely
to make Contingent Coupon payments over the term of the securities and could issue a comparable debt security with
a lower Contingent Coupon Rate.

If the securities are redeemed prior to the Maturity Date, you will be entitled to receive a cash payment equal to the
principal amount of your securities and any Contingent Coupon payable, if any, on that Contingent Coupon Payment
Date, and no further payments will be made in respect of the securities. In this case, you will lose the opportunity to
continue to 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 provide you with the opportunity to be paid the same coupons as the securities.

·
T H E OCCU RREN CE OF A M ARK ET DI SRU PT I ON EV EN T M AY ADV ERSELY AFFECT Y OU R RET U RN
-- If a market disruption event occurs during any Observation Period (other than on the

8
Observation Date included in such Observation Period), the total number of Non-Disrupted Days during such
Observation Period will be reduced. Any such reduction in the number of Non-Disrupted Days during such Observation
Period will magnify the relative weighting of any day on which the closing level of the Underlying is less than the
Accrual Barrier relative to the total number of Non-Disrupted Days during such Observation Period. Under these
circumstances, your Contingent Coupon payment could be less than if a market disruption event had not occurred.

·
T H E SECU RI T I ES ARE LI N K ED T O T H E RU SSELL 2 0 0 0 ® I N DEX AN D ARE SU BJ ECT T O T H E RI SK S
ASSOCI AT ED WI T H SM ALL -CAPI T ALI Z AT I ON COM PAN I ES -- The Russell 2000® Index is composed of
equity securities issued by companies with relatively small market capitalization. These equity securities often have
greater stock price volatility, lower trading volume and less liquidity than the equity securities of large-capitalization
companies, and are more vulnerable to adverse business and economic developments than those of large-
capitalization companies. In addition, small-capitalization companies are typically less established and less stable
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financially than large-capitalization companies. These companies may depend on a small number of key personnel,
making them more vulnerable to loss of personnel. Such companies tend to have smaller revenues, less diverse
product lines, smaller shares of their product or service markets, fewer financial resources and less competitive
strengths than large-capitalization companies and are more susceptible to adverse developments related to their
products. Therefore, the Russell 2000® Index may be more volatile than it would be if it were composed of equity
securities issued by large-capitalization companies.

·
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.

·
EFFECT OF I N T EREST RAT E U SED I N ST RU CT U RI N G T H E SECU RI T I ES -- The internal funding rate we
use in structuring notes such as these securities is typically lower than the interest rate that is reflected in the yield on
our conventional debt securities of similar maturity in the secondary market (our "secondary market credit spreads"). If
on the Trade Date our internal funding rate is lower than our secondary market credit spreads, we expect that the
economic terms of the securities will generally be less favorable to you than they would have been if our secondary
market credit spread had been used in structuring the securities. We will also use our internal funding rate to determine
the price of the securities if we post a bid to repurchase your securities in secondary market transactions. See "--
Secondary Market Prices" below.

·
SECON DARY M ARK ET PRI CES -- If Credit Suisse (or an affiliate) bids for your securities in secondary market
transactions, which we are not obligated to do, the secondary market price (and

9
the value used for account statements or otherwise) may be higher or lower than the Price to Public and the estimated
value of the securities on the Trade Date. The estimated value of the securities on the cover of this pricing supplement
does not represent a minimum price at which we would be willing to buy the securities in the secondary market (if any
exists) at any time. The secondary market price of your securities at any time cannot be predicted and will reflect the
then-current estimated value determined by reference to our pricing models and other factors. These other factors
include our internal funding rate, customary bid and ask spreads and other transaction costs, changes in market
conditions and any deterioration or improvement in our creditworthiness. In circumstances where our internal funding
rate is lower than our secondary market credit spreads, our secondary market bid for your securities could be more
favorable than what other dealers might bid because, assuming all else equal, we use the lower internal funding rate to
price the securities and other dealers might use the higher secondary market credit spread to price them. Furthermore,
assuming no change in market conditions from the Trade Date, the secondary market price of your securities will be
lower than the Price to Public because it will not include any discounts or commissions and hedging and other
transaction costs. If you sell your securities to a dealer in a secondary market transaction, the dealer may impose an
additional discount or commission, and as a result the price you receive on your securities may be lower than the price
at which we may repurchase the securities from such dealer.

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We (or an affiliate) may initially post a bid to repurchase the securities from you at a price that will exceed the then-
current estimated value of the securities. That higher price reflects our projected profit and costs that were included in
the Price to Public, and that higher price may also be initially used for account statements or otherwise. We (or our
affiliate) may offer to pay this higher price, for your benefit, but the amount of any excess over the then-current
estimated value will be temporary and is expected to decline over a period of approximately 90 days.

The securities are not designed to be short-term trading instruments and any sale prior to maturity could result in a
substantial loss to you. You should be willing and able to hold your securities to maturity.

·
CREDI T SU I SSE I S SU BJ ECT T O SWI SS REGU LAT I ON -- As a Swiss bank, Credit Suisse is subject to
regulation by governmental agencies, supervisory authorities and self-regulatory organizations in Switzerland. Such
regulation is increasingly more extensive and complex and subjects Credit Suisse to risks. For example, pursuant to
Swiss banking laws, the Swiss Financial Market Supervisory Authority (FINMA) may open resolution proceedings if
there are justified concerns that Credit Suisse is over-indebted, has serious liquidity problems or no longer fulfills
capital adequacy requirements. FINMA has broad powers and discretion in the case of resolution proceedings, which
include the power to convert debt instruments and other liabilities of Credit Suisse into equity and/or cancel such
liabilities in whole or in part. If one or more of these measures were imposed, such measures may adversely affect the
terms and market value of the securities and/or the ability of Credit Suisse to make payments thereunder and you may
not receive any amounts owed to you under the securities.

·
LACK OF LI QU I DI T Y -- The securities will not be listed on any securities exchange. Credit Suisse (or its affiliates)
intends to offer to purchase the securities in the secondary market but is not required to do so. Even if there is a
secondary market, it may not provide enough liquidity to allow you to trade or sell the securities when you wish to do
so. Because other dealers are not likely to make a secondary market for the securities, the price at which you may be
able to trade your securities is likely to depend on the price, if any, at which Credit Suisse (or its affiliates) is willing to
buy the securities. If you have to sell your securities prior to maturity, you may not be able to do so or you may have to
sell them at a substantial loss.

·
POT EN T I AL CON FLI CT S -- We and our affiliates play a variety of roles in connection with the issuance of the
securities, including acting as calculation agent and as agent of the issuer for the offering of the securities and hedging
our obligations under the securities and determining their estimated value. In performing these duties, the economic
interests of us and our affiliates are potentially adverse to your interests as an investor in the securities. Further,
hedging activities may adversely affect any payment on or the value of the securities. Any profit in connection with
such

10
hedging activities will be in addition to any other compensation that we and our affiliates receive for the sale of the
securities, which creates an additional incentive to sell the securities to you.

·
U N PREDI CT ABLE ECON OM I C AN D M ARK ET FACT ORS WI LL AFFECT T H E V ALU E OF T H E
SECU RI T I ES -- The payout on the securities can be replicated using a combination of the components described in
"The estimated value of the securities on the Trade Date is less than the Price to Public." Therefore, in addition to the
levels of the Underlying on any day during any Observation Period, the terms of the securities at issuance and the
value of the securities prior to maturity may be influenced by factors that impact the value of fixed income securities
and options in general such as:

o
the expected and actual volatility of the Underlying;

o
the time to maturity of the securities;

o
the dividend rate on the equity securities included in the Underlying;

o
the Early Redemption feature, which is likely to limit the value of the securities;

o
interest and yield rates in the market generally;

o
investors' expectations with respect to the rate of inflation;

o
geopolitical conditions and economic, financial, political, regulatory or judicial events that affect the
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components included in the Underlying, or markets generally and which may affect the levels of the
Underlying; and

o
our creditworthiness, including actual or anticipated downgrades in our credit ratings.

Some or all of these factors may influence the price that you will receive if you choose to sell your securities prior to
maturity. The impact of any of the factors set forth above may enhance or offset some or all of any change resulting
from another factor or factors.

·
N O OWN ERSH I P RI GH T S RELAT I N G T O T H E U N DERLY I N G -- Your return on the securities will not reflect
the return you would realize if you actually owned the equity securities comprising Underlying. The return on your
investment, which is based on the percentage change in the Underlying, is not the same as the total return you would
receive based on the purchase of the equity securities that comprise the Underlying.

·
N O DI V I DEN D PAY M EN T S OR V OT I N G RI GH T S -- As a holder of the securities, you will not have voting rights
or rights to receive cash dividends or other distributions or other rights with respect to the equity securities that
comprise the Underlying.

Supple m e nt a l U se of Proc e e ds a nd H e dging

We intend to use the proceeds of this offering for our general corporate purposes, which may include the refinancing of existing
debt outside Switzerland. Some or all of the proceeds we receive from the sale of the securities may be used in connection with
hedging our obligations under the securities through one or more of our affiliates. Such hedging or trading activities on or prior to
the Trade Date and during the term of the securities (including on the Valuation Date) could adversely affect the value of the
Underlying and, as a result, could decrease the amount you may receive on the securities at maturity. For additional information,
see "Supplemental Use of Proceeds and Hedging" in the accompanying product supplement.

11
H ist oric a l I nform a t ion

The following graph sets forth the historical performance of the Underlying on the closing levels of the Underlying from January 3,
2006 through October 26, 2016. The closing level of the Underlying on October 26, 2016 was 1204.749. We obtained the historical
information below from Bloomberg, without independent verification.

You should not take the historical levels of the Underlying as an indication of future performance of the Underlying or the
securities. Any historical trend in the level of the Underlying during any period set forth below is not an indication that the level of
the Underlying is more or less likely to increase or decrease at any time over the term of the securities.

For additional information about the Russell 2000® Index, see the information set forth under "The Reference Indices--The Russell
2000® Index" in the accompanying underlying supplement.

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